Job losses are a common phenomenon around the world also due to the social distancing and other COVID19 precautionary measures. During the ebola outbreak in 2014 Liberia economic growth slowed to 0.7% from a 2013 high of 8.7%. Prior to the COVID19 pandemic, the IMF had projected GDP growth of 0.4% for Liberia. Most monetary policy actions are expansionary and accommodative. On our monetary policy response, this is what the IMF says:“No changes to monetary policy are envisaged at this stage, as the shortage of Liberian dollar banknotes coupled with the lack of confidence in the banking system precludes any meaningful response to the pandemic using monetary policy instruments.

Source: Front Page Africa May 02, 2020 23:37 UTC