Liberia: International Monetary Fund Increases Funding to Liberia

The International Monetary Fund is to release US$10.2 million to support the economy of Liberia following the Ebola virus outbreak and the decline in global commodity prices.
This next payment will bring the total of financing supplied to Liberia to $95.8m under a funding arrangement signed in 2012, which includes $44.7m to help the country meet urgent fiscal needs resulting from the Ebola epidemic.

David Lipton, first deputy managing director and acting chair of the IMF’s executive board, said the country had largely overcome the impact of Ebola.

However, the performance of programs supported by the fund had been uneven as a result of both the epidemic and some “policy slippages”.

Lipton said authorities should press ahead with addressing weaknesses in public financial management.

Lipton also cautioned Liberian authorities against extending tax relief for companies in the commodities sector “in light of such limited fiscal space”.

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