The IMF’s approval comes after months of negotiations and discussions between the Liberian government and IMF officials. 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. The monetary tightening by the Central Bank of Liberia (CBL) enacted in November 2019 was necessary to reduce inflation. These including an unsustainable fiscal stance, the emergence of arrears, excessive central bank financing, depletion of fiscal and external buffers, and pressure on inflation and the exchange rate.

Source: Front Page Africa December 11, 2019 23:07 UTC