IMF urges Bank of Sierra Leone to investigate cash shortages
Recent banknote shipment failed to alleviate shortage, fund says
The International Monetary Fund has advised Sierra Leone’s central bank to “expedite” new shipments of local currency following persistent currency shortages.
The fund also urged the central bank to modernise its monetary policy framework, so it is more “responsive to market developments”.
In its latest country report, the IMF said “acute” shortages of leone banknotes had emerged in 2020 following “exceptionally large” growth in currency outside of banks.
The Bank of Sierra Leone temporarily
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