Liberia: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria and Modification of Performance Criteria-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Liberia
IMF Staff Country Reports, January 8, 2021
Source details
- Canonical URL
- Liberia: First and Second Reviews Under the Extended Credit Facility Arrangement, Request for Waivers of Nonobservance of Performance Criteria and Modification of Performance Criteria-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Liberia
Other formats
Bibliographic details
- Published: January 8, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513566283.002
Program objectives and policy stance
- Main objectives: restoring macroeconomic stability, providing a foundation for sustainable inclusive growth, and addressing weaknesses in governance.
- Authorities' commitment: bringing the ECF-supported program back on track and implementing the Pro-Poor Agenda for Prosperity and Development (PAPD).
- Pandemic-related adjustment: allowance for a slight fiscal loosening to meet humanitarian needs during the COVID-19 pandemic.
Macroeconomic policies and outcomes highlighted
- Monetary policy: maintained tight monetary policy to support price and exchange rate stability.
- Fiscal and financial management:
- Much improved public financial management.
- Domestic revenue mobilization strengthened.
- Zero central bank financing maintained.
- Social impact:
- Price and exchange rate stability helped preserve the purchasing power of the poor, who were most affected by the high inflation environment at the program’s inception.
Subject coverage and keywords
- Subject areas: Currencies, Debt sustainability analysis, External debt, Fiscal stance, Public debt.
- Keywords: CR, currency management plan, Executive Board discussion, financing gap, ISCR, staff appraisal, staff statement.
Content in this bundle
- 1lbrea2021001