Capitol Hill — Liberia's Finance Minister Boima Kamara's attempt to appease the House of Representatives has only exacerbated his troubles. On Thursday, the House voted unanimously to hold Minister Kamara in contempt for his"persistent" refusal to honor their invitations.
Excerpt from Kamara's letter:"Honorable Representatives, our request for deferment is due to the Government of Liberia's engagement with the high-level IMF delegation that is in town up to July 5, 2024, to negotiate the Extended Credit Facility/New Country Program focusing on key fiscal, monetary, and economic issues. Therefore, your esteemed Honorables, I appeal that you please honor our request to postpone the appearance to Thursday, July 11, 2024.
The IMF delegation is in the country to evaluate ongoing policy priorities and negotiate a new four-year Extended Credit Facility program running from September 2024 to 2027. The ECF is a financial assistance program designed by the IMF to help countries with persistent balance of payments problems. It provides low-interest loans and financial support to these countries, enabling them to implement economic reforms aimed at restoring stability and growth.
"They met with me for two hours yesterday. And some of the reasons why we called on the Minister of Finance here today is to address some of the very concerns the IMF raised," Speaker Koffa added.Minister Kamara is no stranger to engaging with the Legislature, having previously served as Minister of Finance during the Ellen Johnson Sirleaf administration.