By: Julius Konton
Liberia’s Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, has reaffirmed the government’s strong commitment to ongoing economic reforms during a high-level meeting with the International Monetary Fund (IMF) in Washington, D.C.
The meeting, held with IMF Deputy Managing Director Mr. Bo Li, focused on Liberia’s reform trajectory, macroeconomic outlook, and prospects for long-term concessional financing under the IMF’s Resilience and Sustainability Facility (RSF).
Minister Ngafuan expressed gratitude for the IMF’s steadfast support, noting the institution’s technical and financial assistance as critical to Liberia’s progress in achieving macroeconomic stability, fiscal discipline, and inclusive growth.
“The Government remains fully committed to reforms that ensure fiscal discipline and sustained economic progress,” Ngafuan said, emphasizing national ownership of the reform program despite external policy challenges.
Also present at the meeting was the Executive Governor of the Central Bank of Liberia, Henry Saamoi, who stressed the importance of policy coordination between fiscal and monetary authorities.
He highlighted that such collaboration has been instrumental in reducing inflation, stabilizing the Liberian dollar, and rebuilding confidence in the national economy.
Deputy Managing Director Bo Li acknowledged Liberia’s notable achievements under successive IMF-supported programs, including the Staff-Monitored Program (SMP) and the ongoing Extended Credit Facility (ECF).
He praised the government’s resilience amid global economic headwinds and commended its adherence to sound economic management.
Mr. Li further confirmed that the IMF Executive Board had successfully concluded its latest review of Liberia’s program on October 1, offering broad endorsement of the country’s policy direction.
Looking ahead, he underscored key priorities necessary to sustain the momentum of reform and unlock further concessional support: Reducing debt vulnerabilities, Strengthening the financial and banking sector, Rebuilding external reserves and Promoting sustainable and inclusive growth.
He noted that progress in these areas will be vital as Liberia seeks to leverage long-term support through the RSF and other international financing mechanisms.
The meeting concluded with mutual optimism, as both sides reaffirmed their shared commitment to deepening cooperation in support of Liberia’s economic recovery and resilience.
