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Non-performing loans in Liberia: the World Bank suspends access

27/11/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Le vice-président de la région Afrique occidentale et centrale de la World Bank announced in a letter addressed to the Minister of Liberian finances, Samuel Tweah the suspension of access to non-performing loans in Liberia due to non-repayment for 60 days under the administration of outgoing President

George Weah.

The World Bank suspends Liberia's access to its loans due to its inability to meet its obligations in matter of debt payment. Although the économie Liberian economy grew by 4.8% in 2022, the budget deficit estimated at 5.6% of GDP in the same year, compared to 2.4% in 2021, deteriorated the financial situation of the countries.

Banque mondiale The suspension will have a serious impact on Liberia's ability to borrow from other donors and will require the new leaders to negotiate the repayment schedule with the.

The Bank notes that there are exemptions for withdrawal requests submitted up to 90 days after the suspension date.

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