Liberia: Staff Report for the 1999 Article IV Consultation and Staff-Monitored Program
IMF Staff Country Reports, April 10, 2000
Source details
- Canonical URL
- Liberia: Staff Report for the 1999 Article IV Consultation and Staff-Monitored Program
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Bibliographic details
- Published: April 10, 2000
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451822823.002
Executive summary and context
- Liberia has begun the long process of recovery and rehabilitation after the civil war.
- The government should expand its focus from near-term relief and reconstruction to a more comprehensive reconstruction and economic reform program.
- The government remains committed to its economic and financial program monitored by IMF staff.
- Continuation of an appropriately restrained monetary stance, supported by a tight fiscal position, is important to:
- build confidence in both the central bank and the new currency, and
- allow for a gradual increase in international reserves.
Key findings and policy implications
- Fiscal policy:
- A tight fiscal position is necessary to support monetary restraint and confidence-building.
- Monetary policy:
- An appropriately restrained monetary stance should be continued to stabilize the new currency and the central bank’s credibility.
- Reconstruction and reform strategy:
- Policy focus should shift from immediate relief and reconstruction to a comprehensive program combining reconstruction with economic reforms.
Subjects and keywords (as provided)
- Subjects: Agricultural commodities, Arrears, Banking, Commercial banks, Commodities, Currencies, Expenditure, External debt, Financial institutions
- Keywords: Africa, Agricultural commodities, Arrears, banking system, civil war, Commercial banks, CR, expenditure, expenditure overrun, financial support, government, ISCR, Liberian authorities, U.S. dollar
Content in this bundle
- Liberia: Staff Report for the 1999 Article IV Consultation and Staff-Monitored Program- ISCR/00/52