Navigating Economic Storms and Emerging from Fragility

Sub-Saharan Africa faces a constellation of economic and geopolitical headwinds. Many economies in the region are fragile, and many are still developing the capacity to respond adequately to frequent shocks and policy challenges. Despite the region's significant potential, its future remains uncertain due to external conflicts and increasing climate-related shocks. Megatrends such as global demographic changes, digitalization, and the rise of Artificial Intelligence present both opportunities and the need for transformative policies going forward.

This book examines these challenges and opportunities through the lens of Sierra Leone's economya nation that, over the past twenty years, has been on a gradual path to recovery from the severe scars left by the civil war. While much has been written about Sierra Leone's civil war and the country's experience with an Ebola outbreak, less attention has been paid to its economic challenges over the past decade and the successes in, and barriers to, overcoming economic vulnerability. This book provides in-depth analysis and strategic policy advice to underscore the significant impact reforms can have in a country still finding its footing after periods of instability. The authors drill down into specific areas of economic policy which may offer lessons for countries grappling with similar issues, in the sub-Saharan African region and beyond.

Explores how Sierra Leone can become more economically resilient Offers policy suggestions to help sub-Saharan African reach its development potential Examines how Sierra Leone can overcome the economic impact of the COVID-19 pandemic

Autorentext

Rosalind Mowatt is a Senior Economist in the IMF's Institute for Capacity Development.

Monique Newiak is the Deputy Chief in the IMF's Inclusion and Gender Unit.

Sukhwinder Singh is Director of the IMF's Africa Training Institute and its Southern Africa Capacity Building Center. Formerly Sierra Leone Mission Chief, he has worked in Africa, South Asia, and in IMF policy roles. He has also held positions at the Bank of England and Bank of Guyana.

Inhalt

1. Introduction.- 2. Navigating Multiple Storms.- 3. Tackling Fiscal Challenges.- 4. Monetary Issues in Sierra Leone.- 5. Building Institutions.- 6. Implementing Transformative Reforms to Emerge from Fragility.- 7. The Macroeconomic Gains from Gender Equality in Sierra Leone.- 8. Conclusion.