Speaker Chambers, IMF Resident Representative Speak – Frowns at Binding Budget Commitments – Global News Network

-Wants the development of IMF funds as they advance Liberia’s economic and fiscal policy

The Speaker of the House, Dr Bhofal Chambers expressed to the new resident representative of the International Monetary Fund (IMF) in Liberia, Mr. Aldar Abdychev, of his desire to see the IMF finance development projects in the country while he works with the government’s fiscal and economic team for a vibrant and dignified Liberian economy.

The President says although he appreciates the current relationship between the IMF and the government of Liberia, he believes that Liberia’s link with the IMF can be improved to another level if the IMF funds direct development in the country. He said the IMF has been a long-standing partner with Liberia and that the partnership often involves giving the Liberian government binding fiscal policy prescriptions that are sometimes difficult to follow.

The president also intoned that he believed the IMF’s vision for the world is to reduce poverty, and called on the Fund to sometimes adapt its economic operations with the countries of the world to their own uniqueness.

Making his assertion at the meeting, the new IMF Resident Representative in Liberia, Mr. Aldar Abdychev disclosed that the fund has committed $ 80 million for the year 2022 to the Liberian government as part of its support.

Mr Abdychev says that although the IMF is not a development agency, the fund, by next year, will break with its tradition a bit and will currently allocate US $ 35 million to finance development projects in Liberia. . The IMF representative also told the meeting that his organization intends to work with the Liberian government to mitigate corruption, waste and abuse of public funds.

Mr. Abdychev intoned that the Fund will continue to work with the government as it begins its service in Liberia. He mentioned that the IMF intends to accelerate its work with the Central Bank of Liberia as well as the Ministry of Finance, and intends to expand its work with the General Audit Commission (GAC), between others.

Also present at the meeting were the House Co-Chair on Finance and Development Planning, Representative Matthew Zarzar, and the Chairman of the House Committee on Foreign Affairs, Representative Crayton Duncan.

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