“After grappling with challenges for over a year, a consensus on the need for broad-based reform has emerged,” the IMF said in a statement. The authorities are committed to carrying out the prudent macroeconomic policies and ambitious structural reforms necessary to restore macroeconomic stability and to put Liberia on a fiscally sustainable and inclusive growth path under the Fund’s four-year Extended Credit Facility arrangement. Moreover, strengthening tax policy and administration over the program period is critical to ensure that the public sector can operate effectively. “The monetary tightening by the Central Bank of Liberia (CBL) enacted in November 2019 was necessary to reduce inflation. “Ensuring financial sector stability is an important element of the program.

Source: Daily Observer December 12, 2019 02:15 UTC