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Govt, partners adopt Medium-Term Debt Strategy

Patrick Flomo/Benjamin S. Taingay
President Ellen Johnson-Sirleaf
President Ellen Johnson-Sirleaf

(elbcradio.com/Liberia/Jan. 28, 2014)-The Liberian Government, in collaboration with key development partners, has adopted a Medium-Term Debt Strategy.

The strategy will account for and analyze the cost and risk associated with borrowing and will ensure a balance with funding needs. The action was taken, being mindful of the past and exercising caution in contracting debt to assure debt sustainability.

The disclosure was made Monday, January 26, 2015 by President Ellen Johnson-Sirleaf in her recent State-of-the Nation Address to the Joint Session of the National Legislature in Monrovia.

In her address, President Johnson-Sirleaf also said: “The country’s total debt stock increased from over US$600M to more than US$700M.”

“Out of this amount, the Government owes the Central Bank of Liberia (CBL) the amount of US$290M.”

The Liberian Leader said prior to the Ebola outbreak, the country’s partners committed a total of over US$197M in Official Development Assistance to support the agenda for transformation.

She said about two-third of the amount was invested in the economic Transformation Pillar to support important infrastructure.

The President added: “Disbursements were significantly reduced during the second half of the year (2014), because of the Ebola outbreak.”

 


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