Liberia: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Liberia

June 12, 2020

Preview Citation

Format: Chicago

Liberia: Request for Disbursement under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Liberia, (USA: International Monetary Fund, 2020) accessed November 21, 2024

Summary

This paper presents Liberia’s Request for Disbursement Under the Rapid Credit Facility. The economic impact of the pandemic is hitting the poorest with little social safety net, and food security of those relying on uncertain daily income is a pressing concern. The authorities have responded by taking revenue and expenditure measures to support emergency food aid for the poor; improving monitoring and control of spending; and safeguarding scarce foreign exchange reserves. Preliminary data suggest that performance under the Extended Credit Facility-supported program has been weak, though the authorities are fully committed to address the weaknesses. In order to address the shortage of Liberian dollars and the growing need for more US dollar liquidity, the authorities have contracted the printing of additional Liberian dollar bank notes and are formulating measures for inclusion in the FY2021 budget to augment US dollar liquidity.

Subject: COVID-19, External debt, Financial institutions, Health, Loans, Public and publicly-guaranteed external debt, Public debt

Keywords: Authority, COVID-19, CR, Development expenditure, Emergency food aid program, Global, IMF lending tracker, ISCR, Loans, Public and publicly-guaranteed external debt, Reform agenda, Response plan, Revenue shortfall, Sub-Saharan Africa, U.S. dollar liquidity

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/202
Stock No:

1LBREA2020001
ISBN:

9781513547282
ISSN:

1934-7685

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