The Government of Sierra Leone’s new Medium-term National Development Plan (MTNDP) 2019–2023 has been founded on a strong political commitment to deliver devel-opment results that would improve the welfare of Sierra Leone’s citizens. The plan charts a clear path towards 2023 en route to the goal of achieving middle-income status by 2039 through inclusive growth that is sustainable and leaves no one behind. For the next five years, the Free Quality School Education Programme is the government’s flagship programme to provide a solid base to enhance human capital development and to facilitate the transformation of the economy.
International Monetary Fund. Strategy, Policy, & and Review Department
The paper reviews the implementation of the initiatives the IMF committed to in 2015 to support developing countries in pursuing the 2030 agenda for sustainable development, including (i) strengthening national tax systems; (ii) tackling large infrastructure gaps; (iii) promoting economic inclusion; (iv) the development of domestic financial markets; (v) intensifying engagement in fragile and conflict-affected states; (vi) improving economic statistics; (vii) expanding the financial safety net for developing countries; and (viii) addressing macroeconomic aspects of climate change. The implementation record to date shows that there has been a large scaling up of IMF support for the 2030 development agenda. The IMF has also engaged in other initiatives of direct relevance for supporting the 2030 development agenda, including adopting a framework to assess corruption vulnerabilities and developing a broad framework for assessing the spending levels needed to reach key SDGs. The paper draws lessons learned from the implementation of the various initiative to inform future IMF engagements.
Economic growth in sub-Saharan Africa this year is set to drop to its lowest level in more than 20 years, reflecting the adverse external environment, and a lackluster policy response in many countries. However, the aggregate picture is one of multispeed growth: while most of non-resource-intensive countries—half of the countries in the region—continue to perform well, as they benefit from lower oil prices, an improved business environment, and continued strong infrastructure investment, most commodity exporters are under severe economic strains. This is particularly the case for oil exporters whose near-term prospects have worsened significantly in recent months. Sub-Saharan Africa remains a region of immense economic potential, but policy adjustment in the hardest-hit countries needs to be enacted promptly to allow for a growth rebound.