Since the announcement by the Government of Sierra Leone on 31st March 2020 of the advent of the COVID 19 virus in Sierra Leone, a number of actions have been taken by the Government to what is effect wage war on the disease. A state of public health emergency pursuant to section (29)(1) of the Constitution of Sierra Leone Act No. 6 of 1991 (as amended) was declared by H.E. The President on 24th March 2020, international travel in and out of Sierra Leone banned, religious and or congregational gatherings banned, curfew imposed, restrictions on inter district movements and this covers goods and persons just to name a few. In addition, some businesses have taken the decision to either fold up shop, suspend operations in the meanwhile or operate on a very limited basis. Others, irrespective of what regulations have been imposed by the Government to combat the scourge, would rather face the wrath of violating the emergency measures announced by the Government rather than allow their businesses to go under. Commerce and industry have been severely affected and the costs of doing business in the midst of the ravaging pandemic continue to reverberate to the very core of all. Third world economies such as Sierra Leone will no doubt feel the pinch more than others. The Monetary Policy Committee (MPC) of the Bank of Sierra Leone met in late March 2020 to discuss and put forward ideas and measures in a bid to cushion the economic effects of the pandemic on businesses in Sierra Leone. In a statement issued by the MPC of the Bank of Sierra Leone, the general public was informed that the leadership of the Bank of Sierra Leone has concluded that putting measures in place to maintain macroeconomic stability in the face of the expected challenges of COVID 19 falls within its mandate. Further, that the MPC under the chairmanship of the Governor of the Bank of Sierra Leone has held an emergency meeting to discuss and agree on policy measures that are in its opinion necessary to soften the adverse impact of the COVID 19 pandemic on the economy of Sierra Leone. In the premises and against this background, the MPC has unanimously agreed to implement a number of measures.
