IMF Staff Country Reports

Liberia: Request for a Four-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Liberia

December 20, 2019

Download PDF

Preview Citation

Format: Chicago

Liberia: Request for a Four-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Liberia, (USA: International Monetary Fund, 2019) accessed November 15, 2024

Summary

This paper highlights Liberia’s Request for a Four-Year Arrangement Under the Extended Credit Facility. The program aims to support the authorities’ strong adjustment efforts, catalyze significant donor financing, and provide a framework within which to implement the authorities’ ambitious reform agenda. The authorities have demonstrated commitment by passing a credible budget for FY2020 that consolidates public finances, including by rightsizing the compensation of employees and implementing long-overdue comprehensive civil service reform, while protecting funds for critical social spending. The program also aims to catalyze substantial external support, which is critical to ensure that the programmed adjustment can be contained at levels that are politically and economically feasible while, at the same time, ensuring public and external debt sustainability. Ensuring financial sector stability is an important element of the program. Improving data reporting, obtaining an overview of the health of the banking system, and taking decisive measures as needed will help identify and address financial sector vulnerabilities. At the same time, enhancing the legal framework is important to ensure that the Central Bank of Liberia has the required instruments should remediation be necessary.

Subject: Debt sustainability analysis, External debt, Foreign exchange, Labor, Public debt, Wages

Keywords: Authority, Building resilience, CBL credit, Commitment expenditure, CR, Debt, Debt sustainability analysis, Extended Credit Facility arrangement, FX liquidity demand, Global, ISCR, Wages, West Africa

Publication Details

  • Pages:

    154

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2019/381

  • Stock No:

    1LBREA2019002

  • ISBN:

    9781513523927

  • ISSN:

    1934-7685

You May Also Be Interested In...

Islamic Republic of Mauritania: Technical Assistance Project on Public Debt Projections: Scoping Mission Report

November 15, 2024

Lao People's Democratic Republic: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao People's Democratic Republic

November 8, 2024

The Federal Democratic Republic of Ethiopia: First Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia

November 4, 2024

Kenya: Seventh and Eighth Reviews Under the Extended Fund Facility and Extended Credit Facility Arrangements, Requests for Reduction of Access, Augmentation and Rephasing of Access Under the Arrangements, Modifications of Performance Criteria, Waiver of Nonobservance of Performance Criteria, and Review Under the Resilience and Sustainability Facility Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Kenya

November 1, 2024