Liberia Qualifies For IMF Trust Tropical Fund

The Ministry of  Finance Ministry has disclosed that Liberia has qualified as a prime beneficiary for technical assistance under the International Monetary Fund or IMF Tropical Trust Fund (TTF) program.

A release issued Monday said Liberia’s qualification is a result of several consultative and diagnostic meetings between the IMF Fiscal Affairs department and Ministry of Finance authorities, as well as  other strategic stakeholders.

The consultations centered on the Revenue Department’s strategies in light of the Ministry’s efforts and commitments toward a revenue modernization strategy.

The TTF program is a multi-donor trust fund established to facilitate the delivery of technical assistance to build capacity in tax policy and administration. Notwithstanding, the Fiscal Affairs Department (FAD) of the IMF is expected to field a mission to Liberia from today, July 5 to 19, 2011 to develop the implementation plan.

At the same time, the team is expected to develop a technical work program to cover the priority modules to be executed over a three year period. The release said the IMF intends to enter into a memorandum of understanding.