Liberia: Staff Report for the 2002 Article IV Consultation, Overdue Financial Obligations to the Fund—Review Following Declaration of Ineligibility, and Decision on Suspension of Voting and Related Rights

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 274

Publication date: September 2003

ISBN: 9781451822809

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Agribusiness , ISCR , CR , Fund , voting right , staff appraisal , audit firm Pannel Kerr Foster , Inc , right , audit firm Pannel Kerr Foster , Inc , Liberia's voting right , Liberian authorities , IMF pamphlet series No , 45 , Agricultural commodities , Arrears , Agroindustries , Africa , West Africa , Sub-Saharan Africa

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Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

The civil war in Liberia has resulted in the destruction of most of its infrastructure. Executive Directors noted the weak revenue performance, the lack of progress on fiscal transparency and accountability, and the poor control and prioritization of government spending. They emphasized the need to address governance, accelerate structural reforms, increase revenue, and improve fiscal transparency. In view of all this, Executive Directors agreed that the procedure to suspend Liberia's voting and related rights in the IMF should be initiated.