IMF [to 16 May 2015]
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Press Release: IMF Staff Completes Review Mission to Liberia
May 12, 2015
A mission from the International Monetary Fund (IMF), led by Corinne Deléchat, visited Monrovia from April 25 to May 8, 2015 to conduct the fourth review of the government’s economic program supported by the IMF under an Extended Credit Facility (ECF)1 arrangement, which was approved by the IMF Executive Board in November 2012. At the end of the visit, Ms. Deléchat issued the following statement:

“Liberia’s economy in 2014 was greatly affected by the Ebola crisis. Real GDP growth for 2014 is estimated at about 0.7 percent, compared to 8.9 percent in 2013. The economic impact of the Ebola outbreak was compounded by the steep decline in iron ore prices, which has affected planned investment in the mining sector. Consumer price inflation declined to 7.3 percent in March 2015 after peaking at 13.5 percent in September 2014 as lower international oil prices more than offset higher domestic food prices. Gross international reserves stood at about 2.7 months of imports as of end-April 2015.”

“The medium-term economic outlook remains challenging. Real GDP growth is projected to remain weak in 2015, with a gradual recovery taking hold in 2016 buoyed by a rebound in agriculture and services. Risks to the outlook stem mainly from a prolonged period of low commodity prices, which would significantly curtail tax and export revenues, and could dampen medium term growth prospects.”…