Public Management

IMF Approves $210mln Loan for Liberia

IMF Approves $210mln Loan for Liberia
Thursday, 26 September 2024 13:07

The program will support reforms to address macroeconomic imbalances, strengthen debt sustainability, and promote private sector-led growth.

Yesterday, the International Monetary Fund (IMF) announced its board of directors approved a $210 million loan for Liberia. The first disbursement will be around $5.8 million, according to the statement.

This program is part of a 40-month Extended Credit Facility (ECF) aimed at supporting the implementation of economic reforms by the Liberian government. These reforms are designed to address macroeconomic imbalances, strengthen debt sustainability, and lay the groundwork for stronger, more inclusive private sector-led growth.

Key actions planned under this program include implementing new fiscal measures, such as a Value Added Tax (VAT), increasing priority public spending—especially on essential infrastructure—and enhancing financial stability by tackling the issue of non-performing loans in the banking sector.

“The Liberian authorities are appropriately prioritizing restoring fiscal credibility. They are focusing on reducing unproductive spending and shifting resources toward public investment while protecting social spending,” said Bo Li, the IMF’s Deputy Managing Director and Acting President.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 million in transactions by end-2025. The fintech...
• Kenya and ASR sign deal to reduce risk on projects worth up to $2 billion.• Risk cover will target infrastructure, energy, logistics, and trade...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
03

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
04

• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...

EY’s Exit Creates $1bn Opportunity in Francophone Africa Consulting Market
05

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.