WASHINGTON (Pakistan Point News / Sputnik - 25th November, 2021) Liberia will receive $23.64 million from the International Monetary Fund (IMF) following the latest review of a four-year $214.30 million program, along with successful efforts to tame inflation and restore economic growth, the IMF said.
"The economy is on track to rebound strongly next year, following the setback from the COVID-19 pandemic. The medium-term outlook is favorable and the authorities are committed to steadfast implementation of their macroeconomic stabilization and structural reform program," IMF Deputy Managing Director Bo Li said in a press release on Wednesday.
The IMF issued the press release after the organization's Executive board approved the disbursement.
While the Liberian economy contracted by 3 percent in 2020, for 2021, growth of 3.6 percent is expected, with the fiscal deficit declining further to 2.4 percent of GDP and inflation reaching single digits, the release added.
With the new disbursement, Liberia will have received $94.8 million of a $214.3 million package approved four years ago to support a series of economic reforms, according to the release.
