Government Installs Approxiamtely $75 Million Dollar Stimulus Plan For Economic Sustainability Admist The Fight Against COVID-19.

Government Installs Approxiamtely $75 Million Dollar Stimulus Plan For Economic Sustainability Admist The Fight Against COVID-19.

The President of Liberia has submitted a full letter to the house of legislatures seeking permission to install an Economic Stimulus plan. The plan which is aimed that alleviating those affected by COVID 19 in the country and to upbeat the country\’s economy.

Here\’s the full summary of the stimulus plan.

1.Food Support: US$25 Million to support food distribution to citizens for 60 days. The World Bank has agreed to contribute additional US$10 million to this effort. World Food Program (WFP) and the Government of Liberia (GoL) will implement this program;

1. Free Electricity: Government to pay the electricity bill (LEC) for all citizens during the “Stay -At-Home Order”

2. Free Water: Government to pay the water bill (LWSC) for all citizens during the “Stay -At-Home Order”

3. Loan Payment: GoL to fully pay the loans owed by market women and petty/small traders in the counties affected by the Stay-At-Home Order;

4. Domestic Arrears: GoL to set aside US$15 million in next year’s budget to pay suppliers and vendors that have not been paid over several years

5. Suspension of Surcharge: For the next 6 months the GoL will suspend all additional charges on imported goods that are also manufactured in Liberia; and

6. Suspension of Pre-shipment Inspection (PSI): Until otherwise notified, all  PSIs will be suspended. This means that importers will not be required to assess their goods overseas before importation.

We do appreciate Governments efforts to sustain and maintain a stable economy.

Written By: [Editor: Lutherlyn Tomah]