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IMF gave US$130m for Liberias recovery

Patrick Flomo/Benjamin S. Taingay

(elbcradio.com/Mar. 4, 2015)-The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, says the institution gave US$130M to Liberia’s recovery for the past five years.

Madam Lagarde said: “The amount covers new financing and debt relief, including more than US$45M from its Rapid Credit Facility, while over US$36M in debt relief was recently approved by the Executive Board.”

She noted that the debt relief is the first time such assistance was provided under the institution’s new Catastrophic Containment and Relief Trust.

The IMF official disclosure was contained in a statement she issued after a meeting with President Ellen Johnson-Sirleaf recently at the institution’s headquarters in Washington, D.C.

According to her, such assistance is providing crucial budgetary support, assisting the Liberian Government’s efforts in eradicating the Ebola virus from the country and supporting Liberia’s economic recovery.

“The poor and vulnerable have been hit unduly, and action is urgently needed to address food insecurity.”

She, however, said the “courage and tenacity” exhibited by President Johnson-Sirleaf and the Liberian people in confronting an unprecedented public health emergency have been “extraordinary to see.

Lagarde noted that Liberia was making progress before the Ebola outbreak, and it is essential that the international community does everything it can to help get Liberia’s economy back on track.

 


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