LIBERIANS ARE expected to see their living conditions further worsen under their ex-football star President, George Weah, as the International Monetary Fund (IMF) announced that the country’s economy will stall in 2019.
The IMF in its latest report on the Liberian economy noted that high inflation was overwhelming gains made in revenue collection in Liberia.
This year, according to the IMF’s report sighted by DGN Online, the Liberian economy will expand by 0.2 percent in 2019 current policies, down from an earlier estimate of 4.7 percent.
The IMF’s report was released on Friday, March 8, 2019.
According to IMF, the 2018 growth was 1.2 percent, lower than 2.5 percent in 2017. Inflation jumped to 28 percent in December.
The IMF’s team leader, Mika Saito stated that “Liberia’s economic situation is challenging, and strong policy actions will be required to maintain a favorable outlook as anticipated at this time last year.”
Ms. Saito noted in the statement that stability has proved elusive despite improved revenue collection in the first half” of the 2019 fiscal year.”
IMF officials in Liberia have recommended fiscal policies and improving the efficiency of government spending.
“Policies should aim at improve the monitoring, accountability, and transparency of spending,” Saito said. “Intensifying actions to improve governance and fight corruption, including through rigorous adherence to existing procurement rules, would also be effective.”
BY Melvin Tarlue