Board of the International Monetary Funds (IMF) has given the Liberian Government $48.8 Million to help with its programs. The approved amount is under the extended credit facility of the bank. In its report issued this week, the reviews are part of the conditions set under the Extended Credit Facility arrangement, request for waivers of nonobservance of performance criteria and modification of performance criteria.
Due to COVID-19 pandemic coupled with some challenges, the Liberian government requested for a waiver for nonobservance of the end of December 2019 and end of June 2020..
“The policy decision by the government helped to preserve the purchasing power of the poor who were the most affected by the high inflation environment at the program’s inception,” the IMF report said.
According to the IMF, the Liberian Government has considered bringing the ECF-supported program back on track of utmost importance and are committed to their development plan, the Pro-Poor Agenda for Prosperity and Development (PAPD)