Sierra Leone - The economy (Vol. 1 of 2) : Main report

RESTRICTED FIjE tCO Y Report No. AF-20a This report was prepared for use within the Bank and its affiliated organizations. They do not accept responsibility for its accuracy or completeness., The report may not be published nor may it be quoted as representing their views. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION THE ECONOMY OF SIERRA LEONE April 21, 1964 Department of Operations Africa  EQUIVALENTS Currency Currency Unit: West African pound (h) U.S. $1 = :0. 357 (7s. 2d. WestAfric.an) El = U.S. $2. 80 il million = U.S. $2, 800, 000 Weights All tonnages are expressed in long tons (2, 240 pounds) 1 long ton = 1. 12 short tons = 1. 02 metric tons Fiscal Year The fiscal year is since 1959 - April 1 to March 31  CONTENTS Page BASIC DATA MAPS 1 & 2 SUMMARY AND CONCLUSIONS I. BACKGROUND ................., ., 1 Supply and Use of Resources. 2 II. PRODUCTION AiND DEVELOPIVENT IN INDIVIDUAL SECTORS . 3 Agriculture .......... . . , ............. 3 Fisheries. 6 Forestry ............ , . .......... 7 Mining ..... . ............ 7 Manufacturing Industry, Building and Con- struction .......20. . 10 Domestic Trade and Services .11 Transport and Public Utilities .11 Social Services ............... ,., 15 Labor, Wages and Prices .15 Banking and Monetary System . 16 Public Finance .17 Foreign Tr4de ........................... . 21 Developnent Planning .... External Debt .24 III. PROSPECTS AND CCNCLUSIOS .25 Prospects of the Economy in the Short and Long Run. 25 Creditworthiness and IDA-worthiness .26 APPENDIX A Social Services APPENDIX B Develspment Planning STATISTICAL APPENDIX  BASIC DATA Area 27,925 square miles; 72,300 square km. Population (as of April, 1963) 2,183,000 Gross National Product (1961) L60-90 million Per Capita GNP k27-41 ($77-115) Public Finance (actual 1962/63) '000 Revenue of domestic origin 13,293 of external origin 705 Expenditure, recurrent 13,169 capital 3,084 External Trade (Average for 1962 and 1963) I000 Imports, retained, c.i.f. (of which from U.K. 43%) 26,450 Exports, exclusive re-exports, f.o.b. (of which to U.K. 75%) 21,060 of which Diamonds 11 610 Iron ore 5,020 Palm kernels 2,450 Cocoa and coffee 1,150 Estimated Public External Debt Outstanding December 31, 1963 - US; equivalent 40.4 million (or L14.4 million) Major additions by January 31, 1964 - US$ equivalent 8.5 million (or L3.0 million) Membership: IBRD September 10, 1962 IDA November 13, 1962 IFC September 10, 1962  SIERRA LEONE NATURAL RESOURCES AND TRANSPORT Hrrc-a nan o-- jr for at rese rve s ienr r -d -od,s Pop d uber estates F F-r- | S -%v s-je-J-g Sehe-t a r/a D --- * Ba,us,. ,q oo uoo Seod E~~~~~~~~~~~~~~~~~ RE.~~ ~ ~~~~~ 0 K- X $0 1i/ -4~~~~~~~~~~~~~v0 ~~~~~ ~ F ( 10 20a m 30 40 <0 J IG R Of I- MILE a V O1 ASS E FE RU R 96 0 20D-04 30 4R0/\ _ s < re ( iNmGAL \fI B- ER a FEBRUARY~~~~~~~~~~~~~~~~~~~ao 964 16D-04  SIERRA LEONE POLITICAL AND TOPOGRAPHICAL MAP Internntilinal bolindary . .--. Altitides