Monrovia — The Liberian Government has fully settled its 2024 International Maritime Organization Member States' Assessed Due in the sum of £5,124,591.00 or US$6,516,429.91, as part of endeavors to strengthen commitment and uphold international policy.
A Foreign Ministry release Monday said the Assessed Due paid by Liberia will reinforce the country's position as the world's leading Open Registry and the second-highest contributor to the IMO's annual budget for over two decades.
"As the leading Open Registry globally, Liberia boasts a stellar reputation, consistently ranking as the second-highest contributor to the annual budget of the IMO for over two decades, with an average annual contribution of 13% to the organization's budget," the release said.
This significant financial commitment is said to underscore the country's strategic role and influence within the IMO, reflecting its dedication to upholding and advancing international maritime standards.
Liberia's contributions are anticipated to increase in 2025, following its ascension as the world's largest registry in August 2023, with a gross registered tonnage surpassing 257 million.
This growth directly impacts the assessed dues paid to the IMO by member states, which are determined based on the gross registered tonnage under a country's flag.
The release also quotes that under President Joseph Boakai's ARREST Agenda, the government commitment is a testament to Liberia's dedication to strengthening foreign policy, enhancing relationships with international organizations, and maintaining sovereign reputation.
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Foreign Ministry however assured that international shipping remains safe, secure, and environmentally responsible particularly in mitigating ship-sourced pollution under the Unity Party led government.
The timely settlement of Member States' dues is vital for the IMO's operational efficiency, enabling the organization to implement its biennium agenda effectively.
Liberia's consistent financial contributions and leadership within the maritime sector not only bolster its international standing but also affirm its commitment to global maritime governance and environmental stewardship.
Furthermore, the regularization of Liberia's financial obligations to the IMO is a critical component of President Joseph Boakai's administration's ARREST Agenda strategy.
The strategy aims to strengthen Liberia's foreign policy position, enhance relationships with international organizations, and reinforce its sovereign reputation as the leading Open Registry globally.
By ensuring timely and substantial contributions to the IMO, Liberia not only secures its influential position within the international maritime community but also showcases its commitment to collaborative international efforts and responsible maritime practices.
Liberia's robust participation and substantial financial support in the IMO highlight its pivotal role in shaping international maritime policies.
This commitment enhances the nation's influence and reaffirms its position as a key player in promoting safe, secure, and sustainable international shipping practices, aligning with the broader goals of the ARREST Agenda to elevate Liberia's standing on the global stage.
