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Saturday, February 15, 2025

Liberia: Outgoing IMF Country Chief Honored For Role in Building Economy

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The Ministry of Finance & Development Planning has honored the outgoing Resident Representative of the International Monetary Fund (IMF), Aidar Abdychev, for his dedicated service and contributions during his time in the country.

Speaking at the event, Acting Minister of Finance & Development Planning, Antony G. Myers, lauded Abdychev for his instrumental role in the ongoing discussions regarding the extension of the Extended Credit Facility (ECF) for Liberia. The ECF is a critical program designed to support the country’s economic stability and growth.

“Abdychev has played a crucial role in advancing the negotiations aimed at extending the ECF,” said Minister Myers. “His efforts have been vital in shaping the discussions and guiding Liberia’s financial strategies.”

The outgoing IMF Resident Representative was given the title of “Wolo” by the MFDP, in recognition of his contributions and collaboration with the ministry.

During his time in Liberia, Abdychev has been instrumental in the country’s efforts to rebuild its economy and institutions, which had faced significant challenges in the 1990s and early 2000s.

“I knew Liberia had to go through a lot of challenges to rebuild the economy and institutions, and there is still a lot of work to be done,” Abdychev said.

The event was also attended by the Senate Committee Chair on Ways, Means & Finance, Senator Prince K. Moye, who addressed the ongoing discussions between Liberia and the IMF.

“The belief that the IMF had instructed against assessing public cooperation for contributing annual dividends to the budget during the previous administration is incorrect,” Senator Moye said. “The IMF has been used for the wrong reasons, and we must be clear about the decisions we take as a country.”

As Abdychev prepares to depart, the Ministry of Finance & Development Planning is extending its gratitude for his dedicated service and contributions, which have significantly impacted Liberia’s economic landscape and will continue to influence the ongoing ECF negotiations with the IMF.

 

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