Salone performance under the macroeconomic convergence remains below expectation

The Committee of Governors of Central Banks of ECOWAS Member States last weekend met in Conakry Guinea to discuss monetary integration process in the region, but also trade integration as a catalyst for total economic integration within the region. As a result of the countries underlying macroeconomic challenges, our Bank Governor who also doubles as Chairman of the Committee, in his keynote address stated that the performance of Sierra Leone under the macroeconomic convergence programme remained below expectation. More specifically, the country was able to satisfy only one of the four primary criteria (that is, the criterion on gross external reserves). This is in stark contrast to the performance in the period before 2016, when it routinely satisfied three primary criteria on average.

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