Liberia: Request for a 40-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Liberia

International Monetary Fund

No 2024/309, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Liberia’s Request for a 40-Year Arrangement under the Extended Credit Facility (ECF). The 40-month financing package will support the authorities’ Economic Reform Agenda to address macroeconomic imbalances, strengthen debt sustainability, and lay the foundations for higher, more inclusive, and private sector-led growth, beyond the enclave sector. The ECF arrangement is expected to catalyze additional external financing from international financial institutions and development partners. Liberia’s economic vulnerability has worsened in recent years. Fiscal slippages have compromised public debt sustainability, contributing to a sharp decline in international reserves. Governance weaknesses have also persisted. The authorities are firmly committed to revitalizing the reform agenda to support macroeconomic stability, promote broad-based economic development, and reduce widespread poverty. Comprehensive structural reforms, including improvements in governance and transparency, are critical for achieving these objectives. Maintaining strong program ownership, supported by capacity development, will be crucial to ensure program success and continued donor support.

Keywords: central bank bank transaction; increase in capital expenditure; budget projection; approved budget; budget proposal; Debt sustainability analysis; Debt sustainability; Budget planning and preparation; Global; West Africa; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 134
Date: 2024-10-11
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