IMF Update: Debt Relief for Liberia, Ready Funding for Mongolia and Georgia

The International Monetary Fund is providing an interim debt relief for Liberia and has made funding readily available for Mongolia and Georgia following reviews of the countries’ performance under separate IMF programs.

The assistance for Liberia is valued at USD6.4 million, which represents “debt relief granted on its debt service falling due between the [Heavily Indebted Poor Countries Initiative’s] decision and completion points.” In a statement, IMF said Liberia will qualify for full debt relief when it reaches the HIPC completion point.

Mongolia can now access funding worth USD23.4 million under its 18-month standby arrangement with IMF. Georgia was also given the same privilege, with an amount totaling USD148.7 million, through a similar arrangement.

About the author

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    Eliza Villarino

    Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.