Monrovia – As Liberia’s debt continues to climb rapidly, there are growing calls for the government to revisit its borrowing policies to avert a potential debt crisis. This growth was primarily fueled by disbursements from the World Bank (US$145.67 million) and the African Development Bank (AfDB) (US$36.94 million), among others. The domestic debt totaled US$1.021 billion, representing 42.62%, driven by disbursements from the Central Bank of Liberia (CBL), commercial banks, and other recognized debt holders. The cancellation of Liberia’s debt under the HIPC initiative depended on policies that contributed to poverty reduction. As the latest statistics show, Liberia’s debt has risen to US$2.3 billion as of December 2023—half the amount waived in 2010.

Source: Front Page Africa August 09, 2024 15:10 UTC