WASHINGTON – The Executive Board of the International Monetary Fund (IMF) completed the third review under the Extended Credit Facility (ECF). Completion of the third review enables the immediate disbursement of SDR 17 million (US$23.64 million), bringing total disbursements under the arrangement to SDR 68 million (US$94.8 million). On August 23, 2021, Liberia received SDR 247.7 million (US$345.3 million) in the context of the general SDR allocation to the IMF’s membership. Fiscal reforms should focus on containing wage bill, enhancing domestic revenue mobilization, improving the quality of public spending, and operationalizing a Treasury Single Account. It will be important to accelerate structural reforms to improve the business climate for private sector development.”

Source: Front Page Africa November 25, 2021 20:51 UTC