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Liberia Finance Chief Says Cleanup Will End Economic Woes

  • Authorities agree to reduce wage bill, reform central bank
  • IMF facility earmarked for investments in infrastructure
Protest against the deepening economic crisis under Liberian President George Weah in Monrovia on Jan. 6.
Protest against the deepening economic crisis under Liberian President George Weah in Monrovia on Jan. 6.

Photographer: Carielle Doe/AFP via Getty Images

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Liberia is cleaning up its own act to rebuild confidence and turn around its crisis-hit economy, Finance Minister Samuel Tweah said.

The West African nation is trying to recover from a period of economic decline after the currency lost more than a fifth of its value against the dollar and inflation accelerated to 30% by the end of its previous fiscal year in June. During 2019, public debt increased by almost a third.