‘Gov’t Need to Redouble Its Efforts to Build Vibrant Private Sector’

first_imgThe Central Bank of Liberia (CBL) has suggested that the Government redouble its efforts aimed at building a vibrant private sector through, among others, the provision of strong credit support, especially to the agriculture, services and manufacturing sectors in order to ensure a better growth performance and stronger support for Liberian entrepreneurship.“It would accelerate job creation and the realization of Liberia becoming a middle income country in line with the Government’s Agenda for Transformation (AfT),” said CBL its 2015 policy statement, released earlier this week. “We also intervened in the real sector through credit easing and credit guarantee, especially for the rubber and housing sectors; and rolling over microfinance payments under the credit unions and village savings and loan associations operating in rural Liberia, affected by the Ebola crisis,” the statement noted.Credit easing is a policy tool used by central banks to make credit more readily available in the event of a financial crisis. Credit guarantee, however, is the guarantee that often provides for a specific remedy to creditor if debtor does not return the debt.According to the report, they (CBL) have observed that the just ended Ebola outbreak, which plagued the country, last year exposed the structural weaknesses of the Liberian economy; highlighting the compelling need for a more concerted effort to restructure the economy. The statement places greater emphasis on value-addition mode of domestic production, especially in the agriculture and manufacturing sectors.“It is important to note that the economy is estimated to grow under one percent for 2014 and 2015, and although projected to rebound and average around 5.0 percent growth in the medium term (2014-2020), it is by far lower than the pre-Ebola (2006-2013) growth of about 8.0 percent,” the CBL explained. The statement noted further that such growth trend is inadequate to create significant employment and make a positive change in poverty reductions.Accordingly, “there is a need for appropriate macroeconomic management tools to promote diversification for more inclusive growth and development in the country,” the CBL said.Mr. Jefferson Kambo, Officer-in-Charge of Research at the CBL, explained to the Daily Observer via phone that if iron ore and rubber can be processed into steel and tires (respectively) in Liberia, this would help to “modify our growth so that the growth would be sustainable.” According to him, Liberia has good soil, yet, “We are still importing rice. We need to put our efforts together to transform our economy by producing our own product here.”Also, the CBL’s eight-page policy statement discloses that the Bank is working to develop an appropriate framework that involves private investors to finance agriculture and housing.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Report Conditions Indicate Home Value Growth in 2013

first_img Agents & Brokers Attorneys & Title Companies Demand For-Sale Homes Home Prices Home Values Housing Supply Investors Lenders & Servicers Processing Service Providers 2013-02-15 Tory Barringer in Data, Government, Origination, Secondary Market, Servicing Report: Conditions Indicate Home Value Growth in 2013 Conditions are “”ripe”” for home values in 2013, according to data collected by “”Realtor.com””:http://www.realtor.com/.[IMAGE]Realtor.com’s national housing data for January 2013 shows last year’s trends are set to continue this year, creating opportunities in certain markets for both buyers and sellers.At the national level, listing inventories decreased 16.47 percent year-over-year in January, dropping to their lowest level since January 2007, when Realtor.com began collecting this data. On a monthly basis, the for-sale inventory was down 5.63 percent.””The significant year-over-year decline in homes for sale shows that the real estate market has worked through much of its excess inventory and, if these conditions continue, sellers are more likely to receive their asking price,”” Realtor.com said in a release.Sellers don’t appear to be taking advantage just yet, however: According to the data, the national median list price for single-family homes, condos, townhomes, and co-ops in January was $187,000, up only 0.80 percent year-over-year.The low inventory did apparently have an effect on the average amount of time that homes spent on the market. [COLUMN_BREAK]The median age of inventory of for-sale listings was 108 days in January, down 2.70 percent month-over-month and 9.24 percent year-over-year.These factors all point to continued gains in value for the next year, said Steve Berkowitz, CEO of Realtor.com operator “”Move, Inc.””:http://www.move.com/?source=web””If inventories remain low and list prices begin to rise over the next few months, as they did last year, conditions will be ripe for additional markets to appreciate in 2013,”” Berkowitz said.At the local level, Realtor.com also forecasts a continuation of 2012’s trends–for better and for worse.””States that were once at the center of the housing crisis, including Arizona, California and Washington, are continuing on upward trajectories. In several markets, particularly in California, home sellers are seeing a dramatic advantage when putting their homes on the market with some of the best prices in recent years,”” Realtor.com said.However, “”markets in the older industrialized parts of the Midwest and the East will likely continue to struggle without a significant turnaround in their local economies.””Realtor.com added that the recovery will continue to hinge upon a number of factors, including economic strength, cost and availability of financing, consumer expectations regarding price growth, and the success of loss mitigation efforts.In terms of market balance, sellers appear to have the greatest advantage in the West, with Sacramento, San Jose, San Francisco, and Phoenix taking four of the five top spots in Realtor.com’s 2013 Best Sellers Markets. The one outlier was Washington, D.C.Buyers, meanwhile, have it made in Asheville (North Carolina), Peoria (Illinois), Charleston (West Virginia), Philadelphia, and Cleveland.center_img February 15, 2013 415 Views Sharelast_img read more