Sierra Leone: Selected Issues and Statistical Appendix

Author: International Monetary Fund

Volume/Issue: Volume 2009 Issue 012

Publication date: January 2009

ISBN: 9781451834659

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Investments and Securities-General , Money and Monetary Policy , ISCR , CR , monetary policy , interest rate , price , rate , current account balance , Pairwise interest rate granger causality , BSL policy objective , renders imports , REER overvaluation , Current account balance , Real effective exchange rates , Exchange rates , Current account , Treasury bills and bonds , Sub-Saharan Africa

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Summary

This Selected Issues paper describes the monetary transmission mechanism in Sierra Leone. The paper uses a vector autoregression model to explore the links between policy changes by The Bank of Sierra Leone and real variables, such as output and prices. The paper describes Sierra Leone’s economic environment and institutions, and also looks at the main channels of monetary policy transmission commonly identified in the literature. Empirical evidence is presented, along with findings and policy recommendations. The paper also describes developments in the external sector, and assesses competitiveness using survey-based indicators.