International Monetary Fund approves $210 million loan for Liberia

Liberia’s finance minister says he had a fruitful engagement with the International Monetary Fund (IMF) during the just-concluded meetings in Washington, DC. Augustine Ngafuan says the encounter resulted in the approval by the IMF of a 40-month $210 million loan. The sum will address urgent fiscal and balance of payment needs, including beefing up the Central Bank of Liberia reserve. Liberia currently has a $2.5 billion foreign debt. Ngafuan also tells VOA’s James Butty, Liberia is prioritizing the fight against corruption through several means, including prosecuting alleged perpetrators