-Wants IMF Fund Development as They Advance Economic and Fiscal Policy for Liberia
House Speaker, Dr. Bhofal Chambers has told the new Resident Representative of the International Monetary Fund (IMF) to Liberia, Mr. Aldar Abdychev about his desire to see the IMF funding Development projects in the Country as they work with the government fiscal and economic team for a vibrant and befitting Liberian economy.
The Speaker says though he appreciates the current relationship between the IMF and the Liberia government, he believes that Liberia’s bond with the IMF can be enhanced to another level if the IMF funds direct development in the country. He averred that the IMF has been a long-time partner of Liberia and the partnership has often been about IMF giving the Liberian government some mandatory fiscal policy prescriptions that are sometimes difficult to follow.
The Speaker also intoned that he believes that the IMF vision of the world is to alleviate poverty, and has called on the Fund to at times tailor their economic workings with countries of the world to their own uniqueness.
Making his assertion during the meeting, the new IMF Resident Representative in Liberia, Mr. Aldar Abdychev divulged that the fund has committed US$80-Million for the year 2022 to the Liberian government as part of its support.
Mr. Abdychev says though the IMF is not a development agency, the fund will, by next year break a little from its tradition, and at current allotted US$35-Million to fund development projects in Liberia. The IMF Rep. also told the meeting that his organization intends to work with the Liberian government to mitigate corruption, waste, and abuse of public funds.
Mr. Abdychev intoned, that the Fund will continue to work with the government as he begins his service in Liberia. He mentioned that the IMF intends to accelerate its workings with the Central Bank of Liberia along with the Ministry of Finance, and intends to extend its workings with the General Auditing Commission (GAC), amongst others.
Also in attendance during the meeting was the House’s Cochairman on Ways Means Finance and Development Planning, Rep. Matthew Zarzar, and the House’s Committee Chairman on Foreign Affairs, Rep. Crayton Duncan.