Liberia: Fourth Review Under the Extended Credit Facility Arrangement and Requests for Waivers of NonObservance of Performance Criteria, Modification of Performance Criteria, and Rephasing and Extension of the Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Liberia

International Monetary Fund

No 2016/008, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Liberia’s Fourth Review Under the Extended Credit Facility (ECF) Arrangement and Requests for Waivers of Nonobservance of Performance Criteria (PC), Modification of PC, and Rephasing and Extension of the Arrangement. The end-June 2014 quantitative PC on government revenues and central bank net foreign exchange position, and one indicative target on net domestic assets were not met. Only three out of seven structural benchmarks for the fourth review were met. Based on the authorities’ corrective actions, the IMF staff supports completion of the delayed fourth ECF review, and the authorities’ request for an extension and re-phasing of the program to end-December 2016.

Keywords: ISCR; CR; debt; Ebola crisis; real GDP; ECF arrangement; post Ebola shock; IMF's Executive Board; Ebola epidemic; Ebola; Public and publicly-guaranteed external debt; Debt sustainability analysis; West Africa; Global (search for similar items in EconPapers)
Pages: 111
Date: 2016-01-08
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