Liberia has paid her 2010 budget contributions to the International Maritime Organisation (IMO)
The payment was made last week by Mr. Wesley M. Johnson, the Ambassador of Liberia to the United Kingdom who presented a cheque for £2,457,663.65 to the Secretary-General of IMO, Mr. Efthimios Mitropoulos in settlement of full the assessed budget contribution to the IMO by the Government of Liberia for 2010.
Mr. Johnson was accompanied to the presentation by Mr. George M. Arku, Permanent Representative of Liberia to IMO and Mr. Stuart Williams, General Manager, Liberian International Ship and Corporate Registry
IMO Secretary-General Efthimios E. Mitropoulos while receiving the payment said that the timely payment of assessments is essential for the Organization’s financial wellbeing as it recognizes the critical contribution of the Organization’s work programme to enhancing safety, security and environmental standards in the interests of the international maritime community and civil society at large.
The annual assessed budget of IMO which is £27,748,500 for 2010 has been distributed among the Organization’s 169 Member States and three Associate Members on the basis of a contribution formula which, broadly speaking, apportions 85% of the budget to the gross tonnage of ships registered in each Member State, as recorded by IHS Fairplay, and 15% according to capacity to pay.
Liberia has the world’s second largest merchant fleet by gross tonnage under its flag and its contribution represents around eight per cent of the assessed budget for the Organization.
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