The IMF has approved a US$46 million loan to Liberia as part of its Extended Credit Facility, supporting the country’s economic reforms and international reserves. This follows a larger US$210 million arrangement established in September 2024 to bolster the Economic Reform Agenda. The initiative aims for fiscal stability and inclusive growth amid improving economic indicators.
The International Monetary Fund (IMF) has approved a US$46 million disbursement to Liberia under its Extended Credit Facility, aimed at enhancing the country’s international reserves and supporting ongoing economic reforms. This funding comes as part of a previously approved US$210 million arrangement designed to catalyze Liberia’s Economic Reform Agenda through the ARREST Agenda for Inclusive Development (AAID). The initiative seeks to address macroeconomic imbalances, improve debt sustainability, and foster inclusive, private sector-led growth.
This financial support from the IMF reflects an ongoing commitment to aid Liberia’s economic development, following a substantial arrangement approved in September 2024. The ECF framework is designed to provide long-term financial assistance to bolster fiscal policies and promote sustainable economic practices. Continued efforts in fiscal discipline contribute to enhanced macro-financial stability, evidenced by a projected GDP growth rate increase to 5.6% in 2025.
In summary, the recent IMF funding signifies crucial backing for Liberia’s economic reforms and stability efforts. The focus on fiscal discipline, improvements in taxation, and tackling non-performing loans is vital for the country’s sustainable economic growth. The continued cooperation between Liberia’s authorities and the IMF is expected to yield positive outcomes in the coming years.
Original Source: thenewdawnliberia.com
