Analysis by Region - Emerging Markets - Sierra Leone

Analysis by Region - Emerging Markets - Sierra Leone

Sierra Leone is very vulnerable to external, economic and climate shocks, and its recovery following the pandemic has been stalled by disruption related to the war in Ukraine. Sharply rising import prices have led to a deterioration in the terms of trade, while mounting price pressures and fears of food shortages have eroded household spending and increased uncertainty. While the country is benefiting from elevated extractive sector commodity prices, higher import costs have outstripped these gains. We expect that economic growth will slow to 2.4% in 2022 and 2.7% in 2023, and to rebound to an average of 3.4% p.a. during 2024-27.