https://allafrica.com/stories/202012220496.html
On December 21, 2020 the International Monetary Fund gave the Republic of Liberia a financial boost of $48.86 Million dollars under a program that was established at the end of last year. Liberia was awarded this money because of a support and relief system approved by the IMF that will help Librarian authorities reform their economy. Liberia was in need of financial assistance because of the COVID-19 pandemic and the amount of damage it did to the Liberian government wasn’t a surprise because of Liberia’s pre-existing fragility. Due to the power shift from the 2017 election and the ebola outbreak from 2014-2016, the COVID-19 outbreak couldn’t have come at a worse time. Liberia’s economy quickly declined. Since the beginning of the reformation and the emergency support from the IMF Liberia is starting to recover.
This is important because Liberia’s economy is extremely underdeveloped and barely impacts the region however, it could have an impact in the future. For instance if Liberia was able to revive their economy even though the pandemic has crippled it then they could be a model for other countries in the region who are also economically struggling. Liberia is so underdeveloped that they are still relying on farming to feed themselves and make themselves money.
This can impact the international relations of sub-saharan Africa because most of the countries in the region are similar to Liberia, they are underdeveloped, and they are all being destroyed by covid. Therefore if Liberia was able to find a way to make themselves a self sustaining economy then they could help the rest of the region do the same. If that were to happen, that would strengthen Africa’s overall impact on the world level with trade.