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MONROVIA-The Liberian government through the Ministry of Finance will soon  begin a negotiation that will lead to the International Monitor Fund(IMF) to give the country  US$350M.

Said amount when approved, will be the first time in the administration of this government   for the IMF to release such amount.   The board of the IMF  has approved some funds in the past, according to the IMF.

This is based on Liberia’s quota to IMF of 0.05 percent. It will be used  to boost up Liberia’s reserve, one of the reasons the allocation was made.

Additionally, to support economic growth through  major infrastructure investment in the post COVID Era and to support  the Fight against COVID through vaccinations.

Said will also help to liquidate both domestic   debt as a form  of economic stimulus and to pay down some debt to the IMF.

The government of Liberia led by the MFDP will negotiate with the IMF  the uses of these resources soon. The amount is expected to be released by the  end of August, 2021.

When approved, the funds will be given to the Central  Bank Liberia-CBL and  the non reserve portion  on lend to the  fiscal  authority.

Recently, the Minister of Finance, Samuel Tweah told international media that the Liberia government has an excellent relationship with the  IMF.  That they were  in discussions with the bank to see ways of helping with  some resources in the fight against the panemic.

“We have a very good relationship with the IMF.  As a matter of fact, we have a team that   has been working with us here,” he said.

He said, they were  working  with the IMF to  help  in some areas of the economy. But  when such fund is given, it will help the country  boots its reserve.

It can  be recalled that  during the regime of former president Ellen Jonson Sirleaf, in 2014, at the heat of the Ebola epidemic,  the CBL had  spent over $40 million. This was  disclosed by  former  deputy central bank governor Boima Kamara.

At the time he said, “Just from June to September this year(20214), we have spent between $40 million to $50 million to intervene in the economy. That level of intervention has to be done to avoid a liquidity crisis,” Kamara said in an interview on the sidelines of the all meetings of the International Monetary Fund and World Bank in Washington.

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