MONROVIA, LIBERIA-Liberia is expected to receive three-hundred-fifty-Million United States Dollars, in critical support mobilized by the International Monetary Fund (IMF).
The money is part of a new Special Drawing Right allocation of six-hundred-fifty Billion USD backed by the IMF, to help low income countries.
The money is expected to boost Liberia’s reserve and support economic growth through infrastructure investment in post-Covid-19 era, and support fight against Covid-19 through vaccinations.
The IMF said:” The fund will also help to liquidate both domestic debt, as a form of economic stimulus and to pay down some debts to the IMF.”
If approved by the group’s Board of Governors, as is expected, the reserves could become available by the end of next month.