An IMF team and the Sierra Leonean authorities held discussions on a new arrangement under the Extended Credit Facility; They made substantial progress towards understandings on the authorities’ development objectives and the reforms needed to achieve macroeconomic stability and maintain debt sustainability; Discussions will continue over the coming months. Continued fiscal and monetary tightening, and preservation of reserves, will be critical in the meantime.

An International Monetary Fund (IMF) team, led by Mr. Christian Saborowski, visited Freetown from April 8 to 12, 2024, to hold discussions with the Sierra Leonean authorities on their request for financial support under a new arrangement under the Extended Credit Facility (ECF) after the previous arrangement came to an end on November 20, 2023 (Press Release 23/403). The discussions continued during the Spring Meetings of the IMF and the World Bank Group in Washington, DC.

At the end of the discussion, Mr. Saborowski issued the following statement:

“The authorities substantially tightened macroeconomic policies in 2023 and into the first quarter of 2024. They are beginning to reap the fruits of the adjustment in the form of a stable exchange rate and declining inflation. Nonetheless, the remaining adjustment required to keep debt on a sustainable path is significant, financing needs are high, and foreign reserves have fallen.

“The authorities and the staff team reached agreement on most policies to underpin the requested arrangement under the ECF. They reached understandings on the authorities’ development objectives and reforms needed to achieve macroeconomic stability and maintain debt sustainability.

“Discussions will continue over the coming months, and the team plans to return to Freetown for a follow-up mission in early September to reach a staff-level agreement on the new arrangement under the ECF. Continued fiscal and monetary tightening, and preservation of reserves, will be critical in the meantime.

“We thank the authorities for their warm hospitality and the productive discussions.”

Distributed by APO Group on behalf of International Monetary Fund (IMF).

The President of the Republic of Liberia, His Excellency Joseph Nyuma Boakai, Sr, has by Proclamation declared Tuesday, April 23, 2024, as By-Election Day and is to be observed as a National Holiday only in Nimba County and Electoral District #1, Grand Gedeh County, which are to hold the By-Elections.

According to a Foreign release, the Proclamation calls on citizens and foreign residents within Nimba County and Electoral District #1, Grand Gedeh County to respect, specifically this National Holiday and directs government offices, business houses, private and public institutions of learning and marketplaces in the affected locations to be closed on that day from six o’ clock ante meridian to six o’ clock post meridian. 

The Proclamation stresses that the Government of the Republic of Liberia is desirous of ensuring the unhindered movement of all eligible voters, granting unto them the opportunity to exercise their constitutional franchise in Nimba County and Electoral District #1, Grand Gedeh County in a peaceful manner on the day of election.

Two vacancies have been created in the Legislature, one in the Senate because of Senator Jeremiah Kpan Koung’s election as Vice President following the October 10, 2023, Presidential Elections, and the other, as a result of the death of Representative Erol Madison Gwion, from Electoral District #1, Grand Gedeh County.

In fulfillment of Article 37 of the Constitution of the Republic of Liberia, the presiding officer of the Senate on January 31, 2024, through the Secretary of the Senate, informed the National Elections Commission of a vacancy in the Senate, affecting Nimba County, and the presiding officer of the Honorable House of Representatives through its Chief Clerk on February 2, 2024, informed the National Elections Commission of a vacancy in the House of Representatives, affecting Electoral District #1, Grand Gedeh County.

According to the Presidential Proclamation, article 37 of the Constitution of the Republic of Liberia provides that in the event of a vacancy in the Legislature caused by death, resignation, expulsion or otherwise, the Presiding Officer shall within 30 days notify the Elections Commission thereof, the Elections Commission shall not later than 90 days thereafter cause a by-election to be held, provided that where such vacancy occurs within ninety days prior to the holding of general elections, the filling of the vacancy shall await the holding of such general elections.

The Proclamation further stresses that these by-elections are in consonance with Article 45 and 48 of the Constitution of the Republic of Liberia. Article 45 provides that the Senate shall be composed of Senators elected for a term of nine years by the registered voters in each of the counties, but a Senator elected in a by-election to fill a vacancy created by death, resignation, expulsion or otherwise, shall be so elected to serve only the remainder of the unexpired term of office. Each county shall elect two Senators and each Senator shall have one vote in the Senate. Senators shall be eligible for re-election.

Article 48  also states that “The House of Representatives shall be composed of members elected for a term of six years by the registered voters in each of the legislative constituencies of the counties, but a member of the House of Representatives elected in a by-election to fill a vacancy created by death, resignation, expulsion or otherwise, shall be elected to serve only the remainder of the  unexpired term of the office, Members of the House of Representatives shall be eligible for reelection.

The Proclamation furthers that the National Elections Commission has scheduled the holding of the By-Elections for a Senator in Nimba County and a Representative in Electoral District #1, Grand Gedeh County on Tuesday, April 23, 2024. 

Distributed by APO Group on behalf of Ministry of Foreign Affairs of Liberia.

HE Minister of State for International Cooperation at the Ministry of Foreign Affairs Lolwah bint Rashid Al Khater met today with HE Ambassador of the Islamic Republic of Mauritania to the State of Qatar Mohammed Al-Amin Salman.

During the meeting, they discussed cooperation relations between the two countries, especially in the fields of economy, health, education and development.

Distributed by APO Group on behalf of Ministry of Foreign Affairs of The State of Qatar.

Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, Minister of Planning and Economic Development Dr. Hala El-Said, Minister of Finance Dr. Mohamed Maait, and Minister of Transport Lieutenant General Kamel El-Wazir.

The Spokesman for the Presidency, Counselor Dr. Ahmed Fahmy, said the meeting reviewed the implementation status of the investment plan for the transportation sector projects. The President was briefed on efforts to develop the railway system, rehabilitate and develop the Greater Cairo metro lines, in addition to projects for the construction, modernization, and operation of ports across the country in partnership with a number of global companies. The meeting also followed up on the latest with regard to the government’s efforts to localize industries related to the transport sector in Egypt by establishing partnerships with the private sector and attracting foreign investment in this field.

President El-Sisi gave directives to continue efforts aimed at improving the localization of industry in Egypt in the transport sector and increasing the percentage of the local component by intensifying ongoing work to provide the necessary facilitations in this regard, which will help implement the state’s strategy to strengthen the national industry in productive fields and achieve maximum benefit from the advanced infrastructure that has been constructed and modernized in various sectors across the republic. In this context, the President gave directives to expedite the completion of the construction and development of maritime, land, and dry ports, as well as logistic zones, to encourage transit trade and develop Egyptian exports, ultimately transforming Egypt into a regional hub for transportation and transit trade. This shall provide more distinguished job opportunities for citizens and drive comprehensive economic and social development efforts.

Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.