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Liberia - Third Poverty Reduction Development Policy Operation Project (English)

This program document presents a supplemental financing to the Third Poverty Reduction Support Development Policy Operation (PRSDPO-III) to the Republic of Liberia in amount of special drawing rights (SDR) 4.8 million in International Development Association (IDA) grants and of SDR4.1 million in International Development Association (IDA) credits, and of United States (U.S.) 4,366,500 dollars in grants from the Liberia forest landscape single donor trust fund. At the time the PRSDPO-III was negotiated in October 2016, Liberia’s fledgling economy, already weakened by the adverse economic effects of the Ebola crisis, has been hard hit by severe exogenous shocks from the sustained slump in global commodity prices. Economic and fiscal performance in 2016 and 2017 turned out to be worse than expected as downside risks, highlighted in the PRSDPO-III program document, have materialized.

Details

  • Document Date

    2017/05/30

  • Document Type

    Program Document

  • Report Number

    114797

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Liberia,

  • Region

    Africa,

  • Disclosure Date

    2017/06/28

  • Disclosure Status

    Disclosed

  • Board Meeting Date

    2017-06-26T00:00:00Z

  • Doc Name

    Liberia - Third Poverty Reduction Development Policy Operation Project

  • Keywords

    governance and public sector;poverty and social impact analysis;human resource management information system;commodity price shock;land use and management;Senior Financial Management Specialist;highquality basic education;central government budget deficit;terms of trade shock;medium term economic prospect;issuance of treasury bill;income from cash crop;efficient delivery of electricity;public financial management reform;legal and operational aspect;balance of payment;human capital development;risk of debt;Exchange Rates;foreign exchange inflow;Civil Service Reform;energy and power;current account balance;rate of depreciation;budget support;supplemental financing;Foreign Exchange Reserve;civil service payroll;adoption of policy;heavy fuel oil;Health System Strengthening;international commodity price;Access to Education;constraints to growth;law enforcement official;civil service remuneration;deposit money bank;letters of appointment;per capita income;global financial system;adverse economic effects;flow of remittance;summary of risks;consultations with stakeholders;prudent fiscal management;current account deficit;cost of living;improved service delivery;civil service cadre;iron ore mining;public external debt;loss of wage;domestic tax revenue;adjustments to expenditure;border points;prudent fiscal policy;Early childhood education;international bond market;budget classification system;public health system;debt management reform;Development Policy Financing;real estate tax;reduction in tax;adverse environmental effect;construction of facilities;natural resource governance;liberian dollar;wages and salary;improving budget execution;exchange rate system;adoption of regulations;basic social service;implementation of reform;culture of accountability;exogenous shock;fiscal revenue;real gdp;development partner;health systems;macroeconomic framework;official reserve;downside risk;Financial Sector;donor funding;discretionary allowances;International Trade;consumer price;equitable access;fiscal impact;budgetary support;fiscal outturn;capital expenditure;current expenditure;inflationary pressure;auditing requirements;estimate impact;financial crime;annual budget;reform strategy;global commodity;legally effective;monetary policy;external shock;funds flow;fiduciary risk;environmental issue;external borrowing;national grid;customs administration;debt sustainability;austerity measures;fuel use;teacher quality;international travel;Job Creation;hydroelectric generation;relief agency;financial autonomy;public fund;competitive procurement;domestic debt;import license;land reform;budget information;transport facility;land policy;land policies;political commitment;net effect;dry season;legislative scrutiny;generation plant;revenue administration;capacity constraint;competitive selection;capital transfer;marginal improvement;Teacher Recruitment;independent oversight;demographic dividend;international donor;land administration;financial reporting;counterparty risk;socioeconomic status;economic slowdown;assurance standards;budgetary resource;private land;decentralized system;account reconciliation;remote area;customary land;peak demand;government land;generation capacity;land right;procurement reform;food import;gender equity;trade balance;financial account;official financing;private finance;full membership;international obligation;operational capacity;tactical analysis;money laundering;Macroeconomic Management;reform effort;public asset;diagnostic capability;export industry;auction market;surrender requirement;excess liquidity;banking sector;expenditure pressures;Public Services;Tax Administration;fiscal gap;poverty impact;active partner;inclusive society;national vision;primary surplus;nontax revenue;project revenue;petroleum storage;discretionary expenditure;prudent borrowing;global economy;increase poverty;nonperforming loan;payment infrastructure;financial regulation;correspondent banking;foreign bank;financial inclusion;household income

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Citation

Liberia - Third Poverty Reduction Development Policy Operation Project (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/843131498701669931/Liberia-Third-Poverty-Reduction-Development-Policy-Operation-Project