{
  "title": "Liberia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Liberia",
  "publication": "IMF Staff Country Reports, July 20, 2016",
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  "summary": "This 2016 Article IV Consultation highlights that the Ebola epidemic and the fall in commodity prices have revealed the vulnerabilities of Liberia’s economy. After barely positive growth in 2014, GDP was flat in 2015 mainly owing to the decline in activity in the iron ore and rubber sectors.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The consultation highlights that the Ebola epidemic and the fall in commodity prices have revealed the vulnerabilities of Liberia’s economy.\n- After barely positive growth in 2014, GDP was flat in 2015 mainly owing to the decline in activity in the iron ore and rubber sectors.\n- In 2016, growth is expected to rise to 2.5 percent, thanks to a rebound in services and the start of gold production.\n- Inflation is expected to stay in the single digits."
    },
    {
      "heading": "Economic performance and key statistics",
      "content": "- GDP: flat in 2015 after barely positive growth in 2014.\n- Growth projection for 2016: 2.5 percent.\n- Inflation: expected to stay in the single digits.\n- International gross reserves: increased in 2015.\n- Central Bank of Liberia’s net foreign exchange position: declined in 2015 owing to operational deficits and exceptional support to the banking sector."
    },
    {
      "heading": "Sectoral developments",
      "content": "- Iron ore sector: decline in activity contributed to flat GDP in 2015.\n- Rubber sector: decline in activity contributed to flat GDP in 2015.\n- Services sector: expected rebound supporting 2016 growth.\n- Mining (gold): start of gold production expected to contribute to 2016 growth."
    },
    {
      "heading": "Fiscal, monetary, and external vulnerabilities",
      "content": "- The Ebola epidemic and the fall in commodity prices exposed economic vulnerabilities.\n- Operational deficits and exceptional support to the banking sector reduced the Central Bank’s net foreign exchange position despite higher international gross reserves in 2015."
    },
    {
      "heading": "Subjects and keywords (as provided)",
      "content": "- Subject: Banking, Commodity prices, Foreign exchange, National accounts, Prices, Public debt, Revenue administration\n- Keywords: Africa, authority, commodity price decline, Commodity prices, CR, deficit, Ebola epidemic, GDP, Global, ISCR, Liberian authorities, revenue weakness, stronger-than-expected commodity price impact, West Africa\n\n---\n\n Content in this bundle\n\n- Cr16238\n  - Cr16238 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr16238 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 20, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498371544.002",
    "The consultation highlights that the Ebola epidemic and the fall in commodity prices have revealed the vulnerabilities of Liberia’s economy.",
    "After barely positive growth in 2014, GDP was flat in 2015 mainly owing to the decline in activity in the iron ore and rubber sectors.",
    "In 2016, growth is expected to rise to 2.5 percent, thanks to a rebound in services and the start of gold production.",
    "Inflation is expected to stay in the single digits.",
    "GDP: flat in 2015 after barely positive growth in 2014.",
    "Growth projection for 2016: 2.5 percent.",
    "Inflation: expected to stay in the single digits.",
    "International gross reserves: increased in 2015.",
    "Central Bank of Liberia’s net foreign exchange position: declined in 2015 owing to operational deficits and exceptional support to the banking sector.",
    "Iron ore sector: decline in activity contributed to flat GDP in 2015.",
    "Rubber sector: decline in activity contributed to flat GDP in 2015.",
    "Services sector: expected rebound supporting 2016 growth.",
    "Mining (gold): start of gold production expected to contribute to 2016 growth.",
    "The Ebola epidemic and the fall in commodity prices exposed economic vulnerabilities.",
    "Operational deficits and exceptional support to the banking sector reduced the Central Bank’s net foreign exchange position despite higher international gross reserves in 2015.",
    "Subject: Banking, Commodity prices, Foreign exchange, National accounts, Prices, Public debt, Revenue administration",
    "Keywords: Africa, authority, commodity price decline, Commodity prices, CR, deficit, Ebola epidemic, GDP, Global, ISCR, Liberian authorities, revenue weakness, stronger-than-expected commodity price impact, West Africa",
    "**Cr16238**"
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