Acting Finance Minister Hails Outgoing IMF Resident Representative for Liberia, Aidar Abdychev, Amidst Key ECF Negotiations

Monrovia, Liberia – The Ministry of Finance & Development Planning (MFDP) has honored the works of the Resident Representative of the International Monetary Fund (IMF) Aidar Abdychev for his tour of duty in Liberia.

 

Speaking at programs marking the occasion, Acting Minister of Finance & Development Planning Antony G. Myers lauded Abdychev for being instrumental in the ongoing discussions regarding the extension of the Extended Credit Facility (ECF) for Liberia.

 

Minister Myers indicated that the Fund is now engaged with countries to succeed on programs they signed out for with the IMF.

 

The MFDP Boss asserted that one of the required actions of the IMF on Liberia is the recast of the Fiscal Budget which is in advance stage. 

 

The outgoing IMF Resident Representative was honored by the MFDP and was given the named 'Wolo' in recognition of his contributions and collaboration.

 

During his time in Liberia, Abdychev has played a crucial role in advancing negotiations aimed at extending the ECF, a critical program designed to support Liberia's economic stability and growth. 

 

His efforts have been vital in shaping the discussions and guiding the country's financial strategies.

 

Senate Committee Chair on Ways, Means & Finance, Senator Prince K. Moye, also stated that the belief that the IMF had instructed against assessing public cooperation for contributing annual dividends to the budget during the previous administration is incorrect.

 

‘It was that the IMF said that there should be no assessment of public corporation, no contribution from the past regime on most of the budget discussions. The IMF said this, the IMF said that”, Senator Moye stressed.

 

According to Senator Moye the IMF name has been used for the wrong reasons and folks working in the government have to be real.

 

He stated ‘if we have to take a decision as a country and that decision is in line with the progress of our economy let it be said clear.’

 

 Moreover, the Bong County Senator believes that some of these statements made during the past regime didn’t come from the IMF.

 

‘But every time the Fund said this, the Fund said that, and when you come to look, some of these decisions are not coming from the Fund.  And during the past regime, we heard a lot of those.’

 

Speaking in the reaction to the honoring and gowning, the IMF Resident Representative revealed that the Fund is in Liberia as a partner to support the country’s effort. 

 

He assured members of the legislature at the occasion of the Fund’s continuous engagement and added that the Fund acknowledged the importance work of the National Legislature.

 

Mr. Abdychev said that prior to his assignment to Liberia, he was aware of the country’s difficult past in the 90s and early 2000s.

 

“I knew Liberia after going through the difficult times in the 90s and early 2000s had to go through a lot of challenges to rebuild the economy and institutions, and what I can say is that there is still lot of things to do.”

 

He expressed hope that the “IMF say” which was mentioned should be justified by good reasons and analysis on why the IMF suggested certain policies to the country.

 

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