Liberia: Staff Report for the 2005 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 166

Publication date: May 2005

ISBN: 9781451822861

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Topics covered in this book

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Banks and Banking , Exports and Imports , Labor , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , governance , governance issue , deficit , economy , Liberian authorities , successor government , implementation capacity , stagnating export , reform agenda , government position , Exports , Currencies , Current account balance , International reserves , Sub-Saharan Africa , Global

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Summary

This 2005 Article IV Consultation highlights that Liberia’s real GDP rebounded in 2004, following a steep decline in the second half of 2003 on account of the hostilities and the imposition of the United Nations ban on timber exports. Prices, particularly of food items, have stabilized as supply constraints eased, and the exchange rate has returned to pre-conflict levels. Official reserves increased modestly from low levels. For 2005, the economic recovery is expected to strengthen, underpinned by continued consolidation of the security situation and reconstruction activities.