The IMF made this recommendation in March 2019 after a team was dispatched to Liberia to investigate the cause of Liberia’s economic nosedive. Of the necessary preconditions, the most critical is that the Government refrains from borrowing from the central bank in addition to reducing the central bank’s operational deficit. He said, “… in my economic speech last year, I announced a policy of no government borrowing from the Central Bank of Liberia. I am pleased to report that, despite salary delays and a tight fiscal situation in fiscal year 2019/2020, the Government of Liberia remained firm in this commitment and did not borrow from the Central Bank of Liberia. Jerome Korkoya said despite agreeing to squeeze the US$23 million budget down to US$17 million, the government has to date not provided any funding to support the process.

Source: Front Page Africa March 12, 2020 06:00 UTC