Abstract
IMF Country Report No. 22/297
Copyright Page
IMF Country Report No. 22/297
LIBERIA
SELECTED ISSUES
September 2022
This paper on Liberia was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed on August 8, 2022.
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Title page
LIBERIA
SELECTED ISSUES
August 8, 2022
Approved By
The African Department
Prepared By Saanya Jain, Akito Matsumoto, Thabang Ernest Molise, and Daniel Jenya.
Contents
DEALING WITH CLIMATE CHANGE IN LIBERIA
A. Climate Change in Liberia
B. The Impact of Climate Change in Liberia
C. The Climate Change Institutions of Liberia
D. Liberia’s Climate Policy
E. Liberia’s Mitigation Policy
F. Liberia’s Adaptation Strategy
G. Climate Change Policy Priorities
H. International Support for Liberia’s Adaptation Efforts
I. Conclusions
FIGURES
1. Annual Average Temperatures Under Different Global Scenarios, 1900-2100
2. ND-GAIN Score
TABLES
1. ND-GAIN Index for Liberia
2. Costs of Action Plan for the Implementation of Strategic Interventions
3. The Most Highly Prioritized Projects
4. Barriers for Climate Action
References
MONETARY POLICY AND DE-DOLLARIZATION IN LIBERIA’S DUAL CURRENCY SYSTEM
A. Introduction and Background
B. Enhancing Liberia’s Monetary Policy Framework
C. Implementing Monetary Policy Under Reserve Money Operating Targeting Framework
D. Promoting De-dollarization in Liberia
E. Conclusions
BOX
1. Cross-country Experience with De-dollarization
FIGURES
1. Monetization, Financial Intermediation, and Dollarization Indicators
2. Impulse Responses of Inflation (CPI) to a One S.D. Innovations in the Exchange Rate (ER) and Money Aggregates Across Four Different VAR Models
TABLES
1. Correlation Results
2. VAR Granger Causality Test Results
APPENDIX
I. Operational Guideline for Implementing Monetary Policy Under Reserve Money Operating Targeting Framework
References
LIBERIA’S GROWTH POTENTIAL AND HOW TO GET THERE
A. Liberia’s Economic Growth Record
B. Sources of Growth
C. Policies to Spur Growth
D. Conclusions
BOX
1. Timelines for the Southern Corridor Road Asset Management Project
FIGURES
1. Education Spending and Outcomes
2. Infrastructure and Public Investment
3. Commercial Bank Credit and Financial Inclusion
TABLES
1. Growth Accounting: Annualized GDP Growth and Its Components
2. Potential Growth and Its Drivers
References