IPNEWS: The Liberia Maritime Authority (LiMA) on behalf of the Republic of Liberia, has remitted US$6,516,429.91 (Six million, Five Hundred Sixteen Thousand, Four Hundred Twenty-Nine Dollars, and Ninety-One Cent) to the International Maritime Organization (IMO) as dues for 2024.

Liberia as a ‘Category A’ Member of the 40-Member Council of IMO, has once again shown that Liberia deserves to be on the IMO Council because of its good standing on due payments as well as meeting other key responsibilities potentially essential to advancing the agenda of the institution.

According to a statement from LiMA, dated July 7, 2024, Liberia is the topmost ‘Open Registry’ in the world and has earned itself with an outstanding reputation of being the second highest contributor to the annual budget of the IMO for over two decades consistently contributing on average annually 13 percent of the organization’s annual budget.

The communication added that Liberia’s percentage payment is expected to increase in 2025 since the West African nation became the World largest Registry in August 2023 with a gross registered tonnage of more than 257 million.

The LiMA statement highlighted that the timely settlement of Members States’ dues is important to the survival of the IMO, as this enables the organization to effectively and efficiently implement its biennium agenda for international shipping to remain safe, secure, and protect the marine environment from ships-source pollution.

The release pointed out that without the prompt payment of dues, the organization would struggle to meet its operational cost and approved thematic programs as per Organization’s Strategic Directions (SD), including, the implementation of IMO instruments supported by capacity development, respond to climate change and reduce greenhouse gas emissions.