Monrovia – Details of a reported US$536 million loan agreement between Liberia and a Singapore-based investment company, Eton Finance Private Limited is still sketchy, nearly a week after a delegation from the CDC-led government returned from Hong Kong and Japan. According to Mr. Mannah, the IMF did not advise Liberia against borrowing or taking external loan, contrary to what is being reported in the media. But there are concerns that the deal may run Liberia into more trouble as it may breach international principles for external borrowing. IMF GUIDELINES SIGNAL DANGERThe IMF, which has set guidelines for external borrowing, has warned Liberia about the risks it may incur. By the end of June 2017, the total external debt stock stood at US$736 million or 35 percent of GDP with expectations of ratifying about US$100 million concessional loans.

Source: Front Page Africa April 09, 2018 03:56 UTC