Washington — The Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, has commended the International Monetary Fund (IMF) for its steadfast partnership and continued support to Liberia’s reform journey, according to report from the US.
Speaking during a meeting with IMF Deputy Managing Director, Mr. Bo Li, Minister Ngafuan reaffirmed the Government’s strong ownership of its economic reform program, even amid difficult policy reversals by some partners.
Minister Ngafuan expressed appreciation for the IMF’s technical and financial assistance, emphasizing that the Government of Liberia remains fully committed to implementing reforms that promote macroeconomic stability, fiscal discipline, and inclusive growth.
Also speaking during the engagement, the Executive Governor of the Central Bank of Liberia Mr. Henry Saamoi underscored the Government’s firm commitment to maintaining macroeconomic stability through close coordination between fiscal and monetary authorities. He noted that this collaboration has been vital in managing inflation, stabilizing the exchange rate, and rebuilding confidence in the Liberian economy.
In his remarks, IMF Deputy Managing Director Mr. Bo Li acknowledged Liberia’s steady progress under successive IMF-supported programs—from the Staff-Monitored Program (SMP) to the Extended Credit Facility (ECF). He praised the Government’s broadly satisfactory performance amid global economic headwinds and commended the role of sound policies and technical guidance in rebuilding macroeconomic stability.
Mr. Li further announced that the IMF Executive Board successfully concluded its October 1st program review, granting broad endorsement of Liberia’s reform trajectory and policy direction. He emphasized that sustaining this positive momentum will require continued focus on key priorities critical to unlocking long-term concessional financing under the Resilience and Sustainability Facility (RSF): reducing debt vulnerabilities, strengthening the banking sector, rebuilding external buffers, and promoting sustainable and inclusive growth.
The meeting ended on a note of optimism, with both sides reaffirming their commitment to deepening collaboration as Liberia continues to advance its reform agenda and build a more resilient and inclusive economy.
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