Liberia, IMF To Partner On Nat’l Budget
House Speaker Bhofal Chambers said the International Monetary Fund (IMF) has agreed to partner with Liberia to ensure that the country comes up with a realistic budget required to make Liberians excel through a constructive partnership that puts the interest of the people first.Speaking to reporters following his meeting with an IMF delegation at his Capitol Building office, Chambers said the IMF as a partner will emphasize more on enhancing the country’s peace and stability and to ensure that constructive inputs and interventions are made for the country to have a better growth in terms of what the country has as its resources.
According to Chambers, “the IMF will be looking at the economic situation of the country in order to see how things can be properly managed and fixing the economy will not be abrupt but gradually.
“There were many wrongs done during past regime that need to be corrected in terms of investment. Take a look at the passage of the 68 concession agreements of which only two were legal,” Chambers said.
He further stated that “if the IMF was in country at that time then the Liberian economy could have been far better than what the country is currently facing; maybe it would have been more than two legal concession agreements. But, I believe that the presence of the IMF will bring some level of change to improve the lives of our citizens.”
“During our discussion, I also informed by the IMF that Liberia’s problem is not as other countries because she has an extractive resource it can depend on economically. All Liberia needs now is to revisit the laws governing those sectors in order to bring some level of restrictions that will stop people from extracting resources without proper measure that will enable Liberians to get their just benefits,” Chambers added.
Accordingly, the House Speaker explained that as a government there is a need to do everything possible to improve the lives of its people, noting that the partnership with the IMF is one that will construct an effective cooperation that will ensure and demonstrate development.
Speaker Chambers also disclosed that part of the discussion with the IMF was to critically review some of the laws, adding that if government will consider some of these issues, the IMF should not only look at government but should also talk to the investors who, according to him, are the drivers of the private sector.
Chambers stated that the private sector businesses and other multi-nationals that do business with Liberia are the engine of growth and not government alone which has created the problem that is affecting Liberia today.
Additionally, Speaker Chambers named some sectors that could better improve the lives of the citizen, if they are managed well, include the logging, mining, and fishery sectors, amongst other which, according to him, contribute immensely to other countries economic growth and can also do so in Liberia.
All Liberia needs is to revisit those laws which, according to Chambers, will be visited soon in order to create a better economic environment for Liberians across the country whom, he said, the Pro-Poor Agenda seeks to uplift.