Monrovia — With declaration by the International Monetary Fund that budget implementation through December 2013 for Liberia was constrained by revenue shortfalls and that the government of Liberia had committed to road projects for which payments are not forthcoming, there has been suggestions in some quarters that former Public Works Minister Samuel K. Woods, who resigned his post a year ago is at the center of the contracts awarded for which implementation is now stalled.
The IMF stated in a mission statement following a visit to Liberia "The overall fiscal deficit is still projected to reach 3.8 percent of GDP in 2014 (fiscal year), as envisaged at the time of the last review, as the authorities were able to reduce current spending. The authorities are strongly committed to preserving current expenditure savings and to implementing decisive measures to raise revenue collection in the reminder of the fiscal year, including by addressing the backlog of taxes in the concessions sector and collecting fees owed by state entities,".
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