Liberia faces financial challenges due to World Bank funding suspension over alleged mismanagement and debt default.

Liberia is facing financial challenges due to the World Bank's suspension of its access to crucial funding, while the government denies defaulting on payments. The World Bank alleges mismanagement of funds and debt default in the Liberia Sustainable Management of Fisheries Project. The Liberian Ministry of Finance and Development Planning claims the issues stem from reduced external transfer dates at the Central Bank of Liberia and denies defaulting on obligations. The government is under pressure to address financial difficulties and prevent further deterioration of the economy, while facing a deadline to submit an Extended Credit Facility proposal to the International Monetary Fund.

August 26, 2024
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