IMF Executive Board Concludes 2018 Article IV Consultation with Liberia

IMF Executive Board

(IMF Website) – On June 8, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Liberia.

A new government is in place, with a mandate to achieve ambitious development objectives. Liberia’s economy appears poised for recovery, as growth bottomed out in 2016 and edged to 2.5 percent in 2017. However, Liberia remains fragile with poor living conditions for the majority of the population. Moreover, a decline in aid inflows, which were elevated during 2014–16, has put pressure on the exchange rate and fiscal resources. The government is thus facing the daunting task of pursuing a demanding development agenda in the face of high expectations, while also managing near-term adjustments and safeguarding macroeconomic stability.

All the elements of the government’s medium-term development agenda have not been fully outline. The baseline scenario presented in this Article IV consultation is staff’s interpretation of the authorities’ stated policies as articulated at the time of the March 2018 mission. The resulting analysis yielded insights into various sustainability issues. However, assuming the implementation of sound policies, the medium-term outlook appears favorable. The main upside risk is an increase in commodity prices and output, while downside risks include difficulties in mobilizing resources to fill the financing gap and in pursuing structural and institutional reforms.

Read more of this report

(Visited 410 times, 1 visits today)

Comments

comments

About Cholo Brooks 11575 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.