The International Monetary Fund (IMF) reached a staff-level agreement for Liberia on a new 40-month extended credit facility arrangement for $209 million, the IMF said in a statement on Monday.
The arrangement is subject to approval by the IMF Executive Board, the IMF said, adding the board discussion is scheduled for September 25, 2024.
IMF team was in Monrovia between June 24 and July 25 to negotiate the Extended Credit Facility (ECF)/New Country Program.
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The team arrived in the country on an invitation from President Joseph Nyumah Boakai when he visited the headquarters of the IMF in December, 2023.
In 2022, IMF completed the 2022 Article IV Consultation and the fourth review under the Extended Credit Facility (ECF) with Liberia.
The four-year arrangement, with total access of SDR 155 million (60 percent of quota or about US$214.30 million) was approved by the IMF Executive Board on December 11, 2019.
