Liberia: First Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria
IMF Staff Country Reports, July 23, 2013
Source details
- Canonical URL
- Liberia: First Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria
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Bibliographic details
- Published: July 23, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484321041.002
Summary
- This paper describes Liberia’s First Review Under the Extended Credit Facility Arrangement and Request for Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria.
- Nonresource real GDP growth, in particular, while still on an upward trend has been revised down for 2013, reflecting the sluggish pace of public investment.
- Nonresource growth is expected to pick up in the medium term, in line with an expected increase in public investment albeit the investment path is somewhat more moderate than originally planned and provided project execution speeds up.
Key findings and analytical themes
- Nonresource real GDP growth: revised down for 2013 due to sluggish public investment.
- Medium-term outlook: nonresource growth expected to pick up if public investment increases and project execution speeds up.
- Fiscal and public management focus areas (subjects listed): Budget planning and preparation; Capital spending; Expenditure; National accounts; Public debt; Public financial management (PFM); Revenue administration.
Policy implications and requests covered
- Request for Waiver of Nonobservance of a Performance Criterion.
- Request for Modification of Performance Criteria.
- Underlying policy emphasis: restoring and supporting public investment to catalyze nonresource growth (as described in the paper).