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Liberia Central Bank Says Economic Growth to Slow on Mining

Liberia’s economy will expand at a slower pace this year as growth in the iron-ore mining industry has eased, according to the country’s central bank.

Economic growth will probably slow to 5.9 percent from 8.7 percent last year “due to the slowdown in the growth pace of the mining sector,” Jefferson Karmo, the Central Bank of Liberia’s acting head of the research, policy and planning department, said in an interview. Inflation jumped to 8.8 percent in the first five months of the year from an average 7.6 percent last year, he said.