{
  "title": "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",
  "publication": "IMF Staff Country Reports, January 8, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/01/07/liberia-first-and-second-reviews-under-the-extended-credit-facility-arrangement-request-for-49995",
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  "summary": "Restoring macroeconomic stability, providing a foundation for sustainable inclusive growth, and addressing weaknesses in governance remain the main objectives of this program.",
  "sections": [
    {
      "heading": "Program objectives and policy stance",
      "content": "- Main objectives: restoring macroeconomic stability, providing a foundation for sustainable inclusive growth, and addressing weaknesses in governance.\n- Authorities' commitment: bringing the ECF-supported program back on track and implementing the Pro-Poor Agenda for Prosperity and Development (PAPD).\n- Pandemic-related adjustment: allowance for a slight fiscal loosening to meet humanitarian needs during the COVID-19 pandemic."
    },
    {
      "heading": "Macroeconomic policies and outcomes highlighted",
      "content": "- Monetary policy: maintained tight monetary policy to support price and exchange rate stability.\n- Fiscal and financial management:\n  - Much improved public financial management.\n  - Domestic revenue mobilization strengthened.\n  - Zero central bank financing maintained.\n- Social impact:\n  - 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."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject areas: Currencies, Debt sustainability analysis, External debt, Fiscal stance, Public debt.\n- Keywords: CR, currency management plan, Executive Board discussion, financing gap, ISCR, staff appraisal, staff statement.\n\n---\n\n Content in this bundle\n\n- 1lbrea2021001\n  - 1lbrea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1lbrea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 8, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513566283.002",
    "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.",
    "Monetary policy: maintained tight monetary policy to support price and exchange rate stability.",
    "Fiscal and financial management:",
    "Social impact:",
    "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.",
    "**1lbrea2021001**"
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