Liberia PRSDPOIII Supplemental

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This program document presents a supplemental financing to the Third Poverty Reduction Support Development Policy Operation (PRSDPO-III) to the Republic of Liberia in amount of special drawing rights (SDR) 4.8 million in International Development Association (IDA) grants and of SDR4.1 million in International Development Association (IDA) credits, and of United States (U.S.) 4,366,500 dollars in grants from the Liberia forest landscape single donor trust fund. At the time the PRSDPO-III was negotiated in October 2016, Liberia’s fledgling economy, already weakened by the adverse economic effects of the Ebola crisis, has been hard hit by severe exogenous shocks from the sustained slump in global commodity prices. Economic and fiscal performance in 2016 and 2017 turned out to be worse than expected as downside risks, highlighted in the PRSDPO-III program document, have materialized.