LISCR Welcomes Liberian Government IMF Move

Wednesday, December 12, 2001
The Liberian International Ship & Corporate Registry (LISCR) has welcomed action by the Government of Liberia to seek IMF auditing of funds from the Liberian registry. Yoram Cohen, CEO of LISCR, says, "Last week the Government of Liberia formally asked for IMF assistance to audit and ring fence revenues from the ship registry. We applaud that, and believe it will reassure shipowners that they can continue to enjoy all the benefits of using the Liberian flag."

The Government of Liberia has approached the IMF because of its experience of working with government finances, and because its independence and status will guarantee that the funds from the registry are seen to be spent in accordance with budgeted domestic policies. Cohen says, "The Liberian Registry has always been structured so that it is run by a U.S. company independent of daily Liberian politics. The United Nations has made it quite clear that it approves that model, and it supports the professionalism of LISCR. It has also made it clear that shipowners should not be encouraged to leave the flag. Bringing the IMF in to monitor the use of the registry revenues extends the transparency which the existing structure provides right through to the final benefits the revenues from the registry bring to both Liberia and the international shipping community."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Australia Submarines: Japan Vs France

While Japan is confident it has proven itself the best contender to build Australia's new submarines, the French have moved to undermine Japan’s bid to build the navy’s new submarines.

Limit Exposure with the Uniform Commercial Code

Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

Passenger Vessels

PVA Elects 2016 Leadership

During the PVA Annual Convention at MariTrends 2016 held January 23-26 in Crystal City, Va., members of the Passenger Vessel Association (PVA) elected Margo Marks of Beaver Island Boat Company,

Fincantieri Launches Majestic Princess for China

Italian shipbuilder Fincantieri has launched its first cruise ship destined for the Chinese market, and will now begin interior fittings ahead of the vessel’s delivery scheduled for spring 2017.

World's Richest Travellers Prefer Panama

According to AFP Relaxnews, Panama saw the most growth in interest among the world’s richest jetsetters for travel this winter and spring.   Panama saw the most

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0733 sec (14 req/sec)