West Africa: Liberia clears arrears to World Bank

Liberia has cleared all overdue debt service payments to the World Bank, marking the beginning of a new era for the country as it normalizes its relations with the international community. Clearance of arrears to the Bank and other multilateral agencies will make Liberia eligible for full debt relief under the Heavily Indebted Poor Country (HIPC) and Multilateral Debt Relief Initiative (MDRI) programs, thereby contributing to the country’s ability to achieve growth and recovery in the coming years.