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Vol 54 No 6

Published 15th March 2013

Sierra Leone

Groans about growth

The increasing flow of ore exports is good for foreign companies and GDP figures but government revenue from mining is low and poorly handled

Last year was not the year it was meant to be for Sierra Leone’s economy. The International Monetary Fund initially predicted growth at a staggering 51.4%. As the months passed, that figure dwindled, dropping first to 35.9% and later to around 20%. That is still impressive. The dramatic fluctuation in the gross domestic product figures shows the uncertainty about the single natural resource that drives growth, iron ore.

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