Liberia: Fourth Review Under the Extended Credit Facility Arrangement and Requests for Waivers of NonObservance of Performance Criteria, Modification of Performance Criteria, and Rephasing and Extension of the Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Liberia

IMF Staff Country Reports, January 8, 2016

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Canonical URL: Liberia: Fourth Review Under the Extended Credit Facility Arrangement and Requests for Waivers of NonObservance of Performance Criteria, Modification of Performance Criteria, and Rephasing and Extension of the Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Liberia

The paper discusses Liberia’s Fourth Review Under the Extended Credit Facility (ECF) Arrangement and Requests for Waivers of Nonobservance of Performance Criteria (PC), Modification of PC, and Rephasing and Extension of the Arrangement.
Based on the authorities’ corrective actions, the IMF staff supports:
- completion of the delayed fourth ECF review, and
- the authorities’ request for an extension and re-phasing of the program to end-December 2016.

Quantitative and indicative targets not met:
- The end-June 2014 quantitative PC on government revenues was not met.
- The end-June 2014 quantitative PC on central bank net foreign exchange position was not met.
- One indicative target on net domestic assets was not met.
Structural benchmarks:
- Only three out of seven structural benchmarks for the fourth review were met.

Subjects covered include:
- Debt sustainability analysis
- Ebola
- External debt
- Health
- Public and publicly-guaranteed external debt
- Public debt
Keywords associated with the paper:
- CR, debt, Debt sustainability analysis, Ebola, Ebola crisis, Ebola epidemic, ECF arrangement, Global, IMF's Executive Board, ISCR, post Ebola shock, Public and publicly-guaranteed external debt, real GDP, West Africa