Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Financial Structures in Sierra Leone PDF full book. Access full book title Financial Structures in Sierra Leone by Emmanuel S. E. Leigh. Download full books in PDF and EPUB format.
Author: Emmanuel S. E. Leigh Publisher: Xlibris Corporation ISBN: 1796012815 Category : Music Languages : en Pages : 440
Book Description
Sierra Leone exhibits the typical features of a developing country in the African economy with high ratio of foreign trade to gross domestic product (GDP), low level of urbanization and high level of monetization. The financial structure is narrow, with the central bank being the forefront of regulation; the commercial banks and other financial institutions being the key players. After independence the government pursued wide range of planning and development strategies with industrialization at the helm. With a shift in focus to implement rapid rate of economic development, monetary and financial institutions were designed to assume the responsibility of mobilizing domestic resources as capital for development. Therefore, the West African Currency Board (WACB) was found inappropriate in the changed environment and was thus replaced by the Bank of Sierra Leone. The Bank of Sierra Leone (Central Bank) was established to serve as an agency that would build up reputable standards of financial management and integrity. In this instant, the Bank formulated and implemented monetary and supervisory policies to foster sound financial environment. The Bank therefore continues to pursue tight monetary policy position consistent with positive economic growth. The Government has highlighted the importance of the financial sector to realize that long-term goal for 2035, and has designed a Financial Sector Development Plan as a framework for creating a sound and well-functioning financial system to support the Government's overall growth objectives and poverty reduction strategies. The book was written in perspective, to capture the attention of scholars and financial authorities in the country. Facts have been documented and perceptions taken from real life-experiences in some of the institutions mentioned in the text. For those scholars and researchers aiming to gain knowledge of financial structures in Sierra Leone, the book can lead them to major topics which should stimulate further studies.
Author: Emmanuel S. E. Leigh Publisher: Xlibris Corporation ISBN: 1796012815 Category : Music Languages : en Pages : 440
Book Description
Sierra Leone exhibits the typical features of a developing country in the African economy with high ratio of foreign trade to gross domestic product (GDP), low level of urbanization and high level of monetization. The financial structure is narrow, with the central bank being the forefront of regulation; the commercial banks and other financial institutions being the key players. After independence the government pursued wide range of planning and development strategies with industrialization at the helm. With a shift in focus to implement rapid rate of economic development, monetary and financial institutions were designed to assume the responsibility of mobilizing domestic resources as capital for development. Therefore, the West African Currency Board (WACB) was found inappropriate in the changed environment and was thus replaced by the Bank of Sierra Leone. The Bank of Sierra Leone (Central Bank) was established to serve as an agency that would build up reputable standards of financial management and integrity. In this instant, the Bank formulated and implemented monetary and supervisory policies to foster sound financial environment. The Bank therefore continues to pursue tight monetary policy position consistent with positive economic growth. The Government has highlighted the importance of the financial sector to realize that long-term goal for 2035, and has designed a Financial Sector Development Plan as a framework for creating a sound and well-functioning financial system to support the Government's overall growth objectives and poverty reduction strategies. The book was written in perspective, to capture the attention of scholars and financial authorities in the country. Facts have been documented and perceptions taken from real life-experiences in some of the institutions mentioned in the text. For those scholars and researchers aiming to gain knowledge of financial structures in Sierra Leone, the book can lead them to major topics which should stimulate further studies.
Author: Emmanuel S. E. Leigh Publisher: AuthorHouse ISBN: 1410776859 Category : Political Science Languages : en Pages : 391
Book Description
This book provides readers with wonderful and fascinating historical facts that have never been assembled into a single text. The book was written in perspective, to capture the attention of scholars and prospective investors. Facts have been corroborated and perceptions taken from real life-experiences in some of the institutions mentioned in the text. For those scholars aiming to gain knowledge of the financial system in Sierra Leone, the book leads them to major topics that should stimulate further studies. Indeed, readers will be left with the wish of researching more. Some of the topics might appear short lived, especially with the fast evolving financial situation. Considering the structure, the book sets for scholars, an ad-hoc platform for discussion that could give rise to significant political and economic analysis. A brief synopsis of the book follows. The Bank of Sierra Leone was established to serve as an agency that would build up a reputation for the highest standards of management and integrity. In this instance, it aims at formulating and implementing monetary and supervisory policies to foster a sound financial environment. The business of commercial banking has evolved rapidly in recent years, as banks have confronted volatile economic conditions and revised regulations. New methods and the evolution of new banks may have some influence on how these activities are expedited but the business of banking is unchanged. The facts on other financial institutions are directed to the integration of the unorganized with the organized sector. It was possible to integrate the two sectors in banking institutions specializing in the requirements of the rural areas. Such institutions combine the provision of credits with marketing and provide ancillary services so as to ensure that credits made available, increase the productive capacity of the recipients. Government financial management in Sierra Leone provides collective goods and services that correspond to the performance of its traditional functions and at the same time promote growth and development, stability, equitable distribution of income and wealth. Its objectives are often interwoven with other economic sectors in the country. These are subject to further studies and interpretation. They become meaningful only when specific contents are translated into policies. Though the repercussions of the decade long rebel war on the financial structure have not been specifically mentioned in the book, the toll was devastating. However, the government has established a unique track record for a post-conflict country.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1455212938 Category : Business & Economics Languages : en Pages : 87
Book Description
After a period of economic slowdown, the outlook for Sierra Leone appears more favorable. Development priorities and their financing while maintaining a competitive economy and a sustainable debt outlook will help. Structural reforms will focus on improving tax administration, strengthening public financial management, and deepening the financial sector. A key constraint to economic growth in the medium term is the lack of basic infrastructure. Executive Directors support the request to modify the target on net domestic bank credit to the government.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1455203351 Category : Business & Economics Languages : en Pages : 68
Book Description
The government of Sierra Leone is requesting a successor three-year Extended Credit Facility (ECF) arrangement to support their program to raise economic growth by increasing investment in infrastructure and developing an accessible financial sector. Fiscal policy in 2010 focuses on improving revenue collection to support capital spending while containing pressures on current expenditures. The global economic downturn slowed economic activity in 2009, but achieving single digit inflation remains a challenge. Fiscal policy performance during 2009 was broadly satisfactory. Monetary policy was expansionary toward the end of 2009.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1513546961 Category : Business & Economics Languages : en Pages : 44
Book Description
This paper discusses Sierra Leone’s Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 (COVID-19) pandemic puts Sierra Leone’s population at risk and is a serious blow to the economy, which has just started to recover. The number of COVID-19 cases is increasing rapidly, threatening the fragile health system. The drop in external demand and essential measures to contain the spread of the virus are sharply curtailing economic activity. The authorities are taking decisive actions to mitigate the health and socio-economic impact of the pandemic. In collaboration with development partners, they are scaling up urgent health spending and introducing measures, including boosting social safety nets and ensuring access to credit for affected businesses. The shock has generated a large balance of payments need. Emergency financing under the RCF will help meet this financing gap and create room for pandemic-related spending. With significant downside risks and a tight financing situation threatening to reverse Sierra Leone’s progress toward the Sustainable Development Goals, additional grant support from the international community is urgently needed.
Author: International Finance Corporation Publisher: ISBN: Category : Languages : en Pages :
Book Description
Sierra Leone's devastating 11-year civil war destroyed much of its infrastructure, and left its economy in tatters. In 2004, two years after the end of the war, Sierra Leone asked the investment climate (IC) advisory services of the World Bank Group to help create a better business and investment climate that will lay a foundation for the country's future economic growth. Answering the call, the World Bank Group's IC advisory services partnered with the United Kingdom's (UK's) Department for International Development (DFID) to design a program to help Sierra Leone improve its business climate, encourage job creation, and spur investment. The result of this partnership was the removing administrative barriers to investment (RABI) program, which ran from 2004 to 2010. RABI pioneered a collaborative approach by working closely with the government, local institutions, and the private sector to implement a comprehensive, integrated agenda that focused on reforms in the following four areas: reducing barriers to businesses operating in the formal sector by simplifying new business registration.; streamlining tax administration, reforming tax policy, and supporting the national revenue authority to simplify taxes; creating a platform for effective and constructive dialogue between the government and the private sector in focal areas such as financial sector reform, access to land, and overall improvements in the investment climate, and supporting reform in those areas; and building and developing an effective investment and trade facilitation structure and promoting Sierra Leone as a vibrant and desirable location for business, especially in the tourism and agribusiness sectors. The RABI program was innovative and responsive, conducting rapid diagnostics, proposing integrated solutions, and moving quickly into implementation with support staff on the ground. The program was also one of the first of its kind to operate in a conflict-affected country, which demand specialized and targeted support solutions.
Author: Dr Ezekiel K. Duramany-Lakkoh Publisher: iUniverse ISBN: 1663201013 Category : Business & Economics Languages : en Pages : 73
Book Description
This book provides a detailed overview and analysis of key macroeconomics variables in Sierra Leone from 1980 to 2015. Like Sierra Leone and Ghana, many nations depend primarily on taxation as a means of galvanizing the required resources needed to meet public expenditure requirements. As a result, it is critical to study how fiscal variables change and how private investment can improve life for everyone. Dr. Ezekiel K. Duramany-Lakkoh, dean of the faculty at University of Sierra Leone, explores Sierra Leone’s fiscal policy and how it’s changed over time in this academic work. Topics include: • economic growth beginning in 2010; • social and economic reform programs; • monetary policy and its effect on inflation; • external and domestic debt management. The author also highlights how government spending has influenced private investment at home and abroad—as well as how a re-established political order has contributed to impressive growth. Whether you do business in Sierra Leone, want to do business there, have a connection to the country, or are a citizen or native, you’ll find valuable insights in this book.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 1498324967 Category : Social Science Languages : en Pages : 216
Book Description
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.
Author: Emmanuel S. E. Leigh
Author: Emmanuel S. E. Leigh
Author: Emmanuel S. E. Leigh
Author: International Monetary Fund
Author: International Monetary Fund
Author: 
Author: Omotunde E. G. Johnson
Author: International Monetary Fund. African Dept.
Author: International Finance Corporation
Author: Dr Ezekiel K. Duramany-Lakkoh
Author: International Monetary Fund. African Dept.