Liberia, IMF to launch economic reform program

The International Monetary Fund has pledged to provide financial assistance to the Liberian government in implementing a three-year macroeconomic reform initiative, a critical move by the fund in clearing Liberia of its collected arrears and in incorporating the country in the IMF’s Heavily Indebted Poor Countries initiative. The Liberian government has also requested for financial aid of around USD920 million from the finance body under the Poverty Reduction and Growth Facility and the Extended Fund Facility. “The main objectives of the government’s new program are to support economic reconstruction by maintaining a stable macroeconomic environment that could facilitate economic growth, job creation, poverty reduction, and progress toward achieving the Millennium Development Goals,” said IMF country Chief of Mission Roberts Powell. (Source: Liberia: IMF, GOL On Debt Issue/The Inquirer-Monrovia)

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