IMF Gives US$130m To Liberia’s Recovery

The Managing Director of the International Monetary Fund, Christine Lagarde, has disclosed that the institution gave US$130 million to Liberia’s recovery for the past five years.

Lagarde indicated that the amount covers new financing and debt relief, which include about US$45.6 million from its Rapid Credit Facility and about US$36.5 million in debt relief recently approved by the Executive Board.

She noted that the debt relief is the first time such assistance was provided under the institution new Catastrophe Containment and Relief Trust.

The IMF official disclosure was contained in a statement she issued after a meeting with President Ellen Johnson Sirleaf recently at the institution’s headquarters in Washington, D.C.

“This assistance is providing crucial budget support and to assist the government’s efforts in eradicating the Ebola virus and to support Liberia’s economic recovery; the poor and vulnerable have been hit unduly, and action is urgently needed to address food insecurity,” Lagarde noted.

She, however, pointed out that the “courage and tenacity” exhibited by President Sirleaf and the Liberian people in confronting an unprecedented public health emergency have been “extraordinary to behold,” adding: “Now is the time to continue to stand with Liberia as it rebuilds.”

Lagarde noted that Liberia was making progress before the Ebola outbreak, and it is essential that the international community does everything it can to help get Liberia’s economy back on track.

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