The Liberian government, through the Liberia Maritime Authority (LMA), has announced full clearance of its arrears to the International Maritime Organization (IMO).
The payment, valued at US$4.52 million, represents the highest lump-sum payment by any member state, in the history of the International Maritime Organization.
This paymen represents Liberia’s annual assessment due-payment to the IMO for its 2011 Budget. IMO Secretary General, Mr. Efthimios Mitropoulos confirmed few hours after receiving the money that Liberia’s payment is the single largest received at any one time in the history of the IMO by any member state. Analysts in Liberia described the payment made by LMA as ‘one in the right direction’, especially for a post-conflict economy whose maritime program is undergoing transformation.
The IMO assessment payment is based on or measured by the size of the fleets within the registry of IMO member countries. Liberia has the world’s second largest registry with over 3,000 vessels and about 122m gross tons currently recorded.
LMA commissioner, Binyah C. Kesselly, presented the US$4.52 million check to the IMO SG and intimated that prompt payment of such a huge sum of money in the face of a global financial crisis clearly underlines the vital role shipping plays in the Liberian economy and the equally vital role Liberia plays in global shipping. The Maritime Commissioner furthered added “the payment also demonstrates the importance Liberia attaches to the work of promoting safe and efficient shipping as well as the invaluable work of the IMO Secretariat”.
The move by Liberia has massively claimed the attention of the world’s maritime community with about six leading international maritime journals and magazines reporting the news as lead story, including The Maritime Executive and Baird Maritime.
Mr. Kesselly also seized the occasion to extend thanks and appreciation on behalf of the Government and people of Liberia for the support provided by the IMO through the priceless efforts of its SG, Mr. Mitropoulos in ensuring the reopening of the Liberia Marine Training Institute (LMTI). The IMO SG as well wished Liberia well in its unwavering drive to once more become an IMO Council Member. It may be recalled that Liberia was narrowly defeated in its bid for a seat at the IMO Council last year.