The new IMF Country Director, Eva Jenkner, on Friday paid a courtesy visit to Speaker, Dr. Bhofal Chambers.
The two officials discussed pertinence economic issues ranging from the challenges and prospects of the Liberian economy from the perspective of the IMF and that of the Speaker.
Madam Jenkner, a German national, told Speaker Chambers that she sees some prospects for the Liberian economy and says the International Monetary Fund is committed to working with the Liberian government’s monetary and fiscal technicians about the Country’s vast economic potential, emphasizing the intentions of the Fund to work with government to accelerate Liberia’s commitment to the Medium-Term Expenditure Framework policy and the expansion of government tax regime.
The Medium-Term Expenditure Framework (MTEF) provides the Government with a tool to manage the tension between competing policy priorities and budget realities. This helps to reprioritize expenditure and make informed policy choices that are affordable in the medium term, but spending alone cannot deliver services.
During the meeting, the IMF official says her visit to Capitol Building also coincides with the Fund engagements with the Legislature through its bi-cameral department for fiscal and budgetary activities referred to as the Legislative Budget Office (LBO) where the IMF sponsored a week-long training which ends this Friday.
Dr. Chambers, during the meeting told the IMF officials that he looks forward to seeing the Fund work with the Liberian government’s economic technicians for a more efficacious revenue architecture that will yield strong economic dividends.
Amplifying on the issue of value addition, Dr. Chambers solicited the indulgence of the IMF to expand its workings with other sectors of the Liberian economy and draw up internationally acceptable mechanisms that enhance Liberia’s desire to turn its raw materials to some level process product and will bring about value addition.
Speaker Chambers then expressed his profound gratitude to the IMF for its engagement with Liberia since 196 and praised the IMF Offices in Liberia for the opportunity provided to staffers at the Capitol Building mostly the Legislative Budget Office for the training.
