Liberia’s 2019 growth forecast lowered by the IMF

Forecast for 2019 on current policies has also been reviewed down to 0.4% from 4.7 %.
A handout picture taken and released on September 11, 2015 shows International Monetary Fund Managing Director Christine Lagarde speaks at the Monrovia City Hall Theater in Monrovia. Lagarde is on a several day visit to Liberia to discuss economic recovery after Ebola. AFP PHOTO / INTERNATIONAL MONETARY FUND / STEPHEN JAFFE RESTRICTED TO EDITORIAL USE — MANDATORY CREDIT “AFP PHOTO / INTERNATIONAL MONETARY FUND / STEPHEN JAFFE” — NO MARKETING — NO ADVERTISING CAMPAIGNS — DISTRIBUTED AS SERVICE TO CLIENTS (Photo by STEPHEN JAFFE / INTERNATIONAL MONETARY FUND / AFP)

The International Monetary Fund has cut down on Liberia’s 2019 growth outlook as inflation erodes gains made in revenue collection.

In a report published on its website, the Breton Wood Institution estimates growth for the West African nation country at 1.2% lower than 2.5% in 2017.

Forecast for 2019 on current policies have also been reviewed down to 0.4% from 4.7 %. According to the IMF, Liberia’s inflation jumped to 28% in December. It said revenue reforms hold a considerable potential to directly expand the resource envelope and enhance a needed rise in social spending.

The IMF staff in Liberia recommend significant action to improve the business climate, while removing administrative constraints on imports  and prices to boost competition.

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