2011年-IMF国际货币组织全球_Sierra_Leone_Poverty_Reduction_Strategy_Paper_Progress_Report_2008_99页_2mb

Summary of Sierra Leone: Poverty Reduction Strategy Paper—Progress Report, 2008-10

Core Content

This document is the 2010 Annual Progress Report of Sierra Leone's Poverty Reduction Strategy Paper (PRSP II), which outlines the country's development agenda and progress from 2008 to 2010. It provides an overview of the macroeconomic, structural, and social policies implemented to support growth and poverty reduction, along with external financing needs and the effectiveness of these initiatives.

Main Points and Key Information

1. Introduction

• The PRSP II (2008–2012) was a mid-term review of the country's development strategy.
• The 2010 report highlights the Government's efforts to implement the Agenda for Change, focusing on development and poverty reduction.
• Key areas of focus include:
  • Infrastructural Development: Rehabilitation of cities and roads, with donor support for 4000 km of feeder roads.
  • Free Healthcare Programme: Implemented to provide free medical care to pregnant women, lactating mothers, and under-five children, widely appreciated by communities.
  • Smallholder Commercialisation Scheme: Aimed at improving agricultural productivity and reducing poverty.
  • Sector-specific initiatives: Including education, health, water and sanitation, gender, and HIV/AIDS.
• A Monitoring and Evaluation (M&E) system was established, coordinated by the Ministry of Finance and Economic Development (MoFED), with four nationwide M&E exercises conducted in 2009 and 2010.
• Civil society and parliament were involved in the M&E process, ensuring transparency and accountability.
• The Human Development Index (HDI) improved by 12 points in 2010, indicating progress in poverty reduction and development.

2. Macroeconomic Performance

• The economy recovered in 2010 after the slowdown from the global financial crisis, with real GDP growth of 5%.
• Key drivers of growth:
  • Recovery in the mining sector, particularly in bauxite (64.2%) and gold (53%).
  • Strong performance in agriculture, manufacturing, construction, and services.
• Electricity generation increased by 29% in 2010, supported by the Bumbuna Hydroelectric Plant and a 10MW thermal power plant.
• Inflation rose to 17.8% in December 2010, up from 12.2% in 2009, due to:
  • Rising international prices for food and oil.
  • Increased pump prices of petroleum products.
  • Depreciation of the Leone-US Dollar exchange rate.
• Imports increased by 48% to US$770 million, driven by:
  • Machinery and transport equipment.
  • Manufacturing goods.
  • Decline in rice imports by 10%, but overall food imports remained stable.
• Exports rose by 48% to US$341.2 million, with:
  • Strong recovery in mineral exports (diamonds, bauxite, rutile).
  • Decline in agricultural exports (due to a return to trend levels).
  • Cocoa exports grew to US$37.1 million.
  • Other exports increased significantly, from US$20 million to US$78.2 million.
• Trade deficit widened to US$428.8 million from US$289.6 million in 2009.
• International reserves reached US$345.2 million, equivalent to 5.4 months of imports, due to lower-than-expected outflows and payments from African Minerals Limited.
• Exchange rate depreciated by 7.7% against the US dollar in 2010, a smaller decline than in 2009 (28%).

3. Fiscal Performance

• Total revenue and grants in 2010 amounted to Le1.55 trillion, 19.4% above the budget.
• Domestic revenue reached Le1.01 trillion, up 34.2% from 2009.
  • Income Tax Department (ITD) collected Le303.0 billion, 26% above the budget.
  • Goods and Services Tax (GST) collected Le246.4 billion, though not budgeted initially.
  • Customs and Excise Department underperformed, collecting Le329.9 billion vs. Le477.7 billion budget.
• Non-tax revenue amounted to Le76.3 billion, Le7.7 billion above the budget.
  • Mining revenue was Le24.2 billion, below the budgeted Le30.3 billion due to operational slowdowns.
• Total expenditure and net lending reached Le2.1 trillion, 17.1% above the budget.
  • Recurrent expenditure was Le1.3 trillion, driven by health sector wages and pension payments.
  • Capital expenditure also increased significantly.
• Interest payments amounted to Le159.2 billion, with most coming from domestic sources.
• External budget support decreased from 24.4% of total revenue and grants in 2009 to 17.1% in 2010.

4. Sector-Specific Progress

• Infrastructure: Roads and urban development projects were in progress, with 4000 km of feeder roads under construction.
• Health: The Free Healthcare Programme was implemented, leading to improved access to medical services.
• Agriculture: The Smallholder Commercialisation Scheme and Diversified Food Production Programme were key initiatives.
• Education: Education for All and Fast Track Initiative projects were progressing, with school construction being a major focus.
• Water and Sanitation: Progress was made in improving access to clean water and sanitation facilities.
• Gender: Efforts were made to promote gender equality and women's participation in development.

5. Preconditions for Strategic Priorities

• Public Financial Management (PFM) Reform was a key focus, with improvements in revenue collection and M&E.
• Civil Service Reform and Decentralisation Process were progressing, though challenges remained.
• Judiciary and Human Rights were being strengthened.
• Security improved, with District Security Committees (DISECs) and Truth and Reconciliation Committee (TRC) contributing.
• Private Sector Development and Tourism were also prioritized, with tourist arrivals increasing by 19.7%.
• Anti-Corruption Commission (ACC) played a role in enhancing governance and accountability.

6. Monitoring and Evaluation

• MoFED led the M&E system, with four nationwide exercises conducted in 2009 and 2010.
• Civil society and parliament were involved in the process, ensuring transparency and community engagement.
• Lessons learned include the importance of regular field visits and follow-ups to ensure timely and effective project delivery.

7. Summary and Conclusion

• The 2010 report shows positive progress in implementation of PRSP II.
• Poverty incidence is expected to decline from 70% in 2005 to 60% in 2010, based on the Sierra Leone MDGs Report.
• The HDI improved by 12 points, showing a positive trend in human development.
• Recommendations include:
  • Continuing to diversify the export base.
  • Strengthening public financial management and decentralisation.
  • Enhancing monitoring and evaluation systems.
  • Improving revenue collection and governance mechanisms.
  • Increasing investment in education, health, and infrastructure.

Key Statistics

• Real GDP growth in 2010: 5%.
• Poverty incidence in 2010: 60% (vs. 70% in 2005).
• Total revenue in 2010: Le1.55 trillion (13.3% of GDP).
• Domestic revenue in 2010: Le1.01 trillion (34.2% increase from 2009).
• Total expenditure in 2010: Le2.1 trillion (27.3% of GDP).
• Inflation in 2010: 17.8% (end of year), with an annual average of 16.8%.
• Exchange rate depreciation: 7.7% against USD in 2010.
• Trade deficit in 2010: US$428.8 million.
• International reserves in 2010: US$345.2 million (5.4 months of imports).

Conclusion

Sierra Leone made notable progress in its Poverty Reduction Strategy Paper (PRSP II) during 2008–2010, particularly in infrastructure, health, and agriculture. While macroeconomic stability and fiscal performance showed improvement, challenges remained in revenue collection and external financing. Continued efforts in governance, public financial management, and sector-specific development are essential to sustain progress and achieve long-term poverty reduction goals.