Liberia is cleaning up its act to rebuild investor confidence and turn around its crisis-hit economy as the country looks to recover from a period of economic decline after the currency lost more than a fifth of its value against the dollar and inflation accelerated to 30% by the end of its previous fiscal year in which public debt also increased by almost a third.
As public protests grew louder against the rule of President George Weah after two years in office, the government has turned to the International Monetary Fund for a bailout.
Among its many ills, authorities have agreed to cut back on its bloated wage bill, end borrowing from the central bank and improve fiscal and monetary governance.
One of the world’s poorest countries with a gross domestic product of less than $3.5 billion, Liberia has struggled to shake off the legacy of civil war that ended in 2003 and the worst ever outbreak of Ebola more than a decade later which derailed its recovery.
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