Investment guarantees in Sierra Leone

Investment guarantees in Sierra Leone

The Government of Sierra Leone outlined the nation’s broad economic development strategies in the Presidential Speeches at the State Openings of Parliament, the Economic and Financial Policy Framework (1996/98) and other documents which place emphasis on the increased role of the private sector in the economy.

The major economic reforms implemented by Government include:

  • Abolition of export and import licences
  • The Leone exchange rate is now determined by market mechanisms
  • Rationalization and substantial reduction of import tariffs;
  • Removal of restrictions on remittance of profits, dividends and expatriate earnings;
  • Authorization of residents and non-residents to open foreign currency accounts with the local banks;
  • Provision for exporters to retain 100% of their export earnings.

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