The NEWS (Monrovia)

Liberia: Treat Country as Long-Term Strategic Partner

Monrovia — At least four countries have been identified as creating setbacks, preventing Liberia from entering the debt cancellation process under an IMF arrangement.

According to a Reuters News Agency report on Sunday, top on the list of countries that have so far blocked Liberia's chances for possible debt relief and subsequently, debt cancellation were Belgium, Brazil, India, Turkey and Indonesia.

Liberia's debts with the IMF, the World Bank, and other creditors are estimated at 4.5 billion United States dollars, with an annual arrears accumulation of 140 million United States dollars.

And until Liberia can write off these huge arrears, the country cannot borrow money to undertake huge capital intensive projects urgently needed to adequately jump-start the economy of the country which has been wretched by years of civil war.

Although the IMF has reportedly come up with a workable plan to relieve Liberia of its debt burden, middle-income countries within the IMF such as Belgium, Brazil, India, Turkey and Indonesia are apparently not enthusiastic over the plan perhaps fearing that they could be made to shoulder a significant portion of writing off Liberia's debt.

But why should these countries actually fear when the IMF and World Bank managements have assured them that there are substantial internal resources that can be used without additional funding from member countries.

Moreover, the World Bank and the IMF have recognized that Liberia is a country that is helping itself and deserves to be helped by the international community. This position is in addition to an independent observation that Liberia has "met all of the onerous requirements demanded by the IMF to access debt cancellation."

With such an awareness and observation which should be widely recognized, we are left to wonder whether Belgium, Brazil, India, Turkey and Indonesia are holding opposite view?

Or, is it that the plight of Liberia has not fully attracted the attention or sympathy of these countries?

What is even more astonishing to us is that we least expected developing countries or middle-income countries to block Liberia's path towards debt relief, especially when Liberia and most of these countries speak almost the same political and diplomatic language in international affairs.

Whatever the case is, we have taken note of the situation as a Liberian institution and hope that the government would do likewise with the realization that Liberia's votes at international forums are as important and equally valuable as any other.

Today, Liberia is suffocating from delays in debt relief by the refusal of some of its international counterparts.

Tomorrow, some of these international counterparts could need Liberia's votes at global forums to protect their interest.

Liberia's disposition towards others tomorrow could be determined by the disposition toward her today.

We therefore urge that Liberia be treated as a long-term mutually strategic partner.


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