The Executive Board of the International Monetary Fund (IMF) approved a four-year arrangement under the Extended Credit Facility (ECF) for Liberia in an amount equivalent to SDR 155 million (60 percent of quota or about US$ 213.6 million) to help the country restore macroeconomic stability, provide a foundation for sustainable growth, and addressing weaknesses in governance. The Executive Board’s decision will enable an immediate disbursement of SDR 17 million (about US$ 23.4 million). At the conclusion of the Executive Board’s discussion, First Deputy Managing Director and Acting Chair, Mr. Mitsuhiro Furusawa, stated:“Liberia’s economic situation is challenging and fragile. “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: GNN Liberia December 12, 2019 12:57 UTC