The International Monetary Fund (IMF) has disbursed to the Government of Liberia US$23.4 million, representing the first tranche of the Fund’s support which was agreed with Liberia earlier this month under an IMF Extended Credit facility.
According to a Ministry of Information statement issued here at the weekend, the payment which has since been received by the government, demonstrates that Liberia has met prerequisite triggers and benchmarks, and is on course to meeting other conditions upon which further disbursements are based.
On December 11, IMF’s Executive Board announced the approval of a four-year arrangement under the FCF in an amount equivalent to US$213.6 million which, according to the IMF, is intended “to help restore macroeconomic stability, provide a foundation for sustainable growth,and addressing weaknesses in governance.”
TSS/abj/APA