IMF delegation issues cautious review of Liberian economy

The International Monetary Fund expressed caution on the Liberian economy recently, following a two-week visit to the country by a delegation of IMF representatives.

The review was part of the progress-monitoring process associated with the IMF's Extended Credit Facility loan agreement with Liberia.

The delegation concluded that the Liberian economy was still hurting from sagging commodity prices and that, overall, the economy remained flat in 2015. Officials cautioned that with another drop in commodity prices looming, Liberia was poised for an even more sluggish year ahead.

Officials advised Liberian leaders to continue with plans to develop more indirect taxing infrastructure to compensate for low tax revenues, and to consider looking for or accepting additional foreign financing in order to ensure the completion of projects already underway.

The April 20 to May 4 trip included visits with President Ellen Johnson-Sirleaf, President Pro-Tempore of the Senate Armah Zolu Jallah, Speaker of the House Alex Tyler, Minister of Finance and Development Planning Amara Konneh, and other government and banking officials.