Washington DC. – The International Monetary Fund (IMF) has commended Liberia for its strong economic reforms under President Joseph Boakai’s administration and is finalizing reports that could qualify the country for significant new climate financing.
During a high-level meeting on Thursday, July 10, 2025, between Liberia’s Finance and Development Planning Minister Augustine Kpehe Ngafuan and IMF Deputy Managing Director Bo Li in Washington DC, Mr. Li praised the Liberian government for its reduction of the fiscal deficit, improved public financial management reforms, strengthened governance, and efforts to promote private sector development under the ongoing Extended Credit Facility (ECF) program.
Deputy Managing Director Li said the IMF Board is completing the review of Liberia’s 2nd ECF program and Article IV consultations, which will pave the way for Liberia’s enrollment into the IMF’s Resilience Sustainability Facility (RSF).
The RSF will provide significant resources to help Liberia enhance climate resilience and adaptation, particularly in agriculture and infrastructure.
Mr. Li also announced that the IMF will send a climate policy diagnostic mission to Liberia at the end of July to conduct a Climate Public Investment Management Assessment (c-PIMA).
The assessment will identify priority interventions to strengthen Liberia’s resilience to climate risks and determine the level of financing Liberia may access under the RSF.
Following Liberia’s expected qualification for the RSF in 2026, the IMF plans to convene a donor roundtable with development finance institutions and other financiers to mobilize additional support for Liberia’s climate-resilient infrastructure and inclusive development priorities under President Boakai’s ARREST Agenda.
In response, Minister Ngafuan conveyed President Boakai’s appreciation for the IMF’s continued support, emphasizing that Liberia’s enrollment in the RSF will provide crucial fiscal space to invest in agriculture, roads, and bridges to boost climate resilience.
He reaffirmed Liberia’s commitment to responsible fiscal management and strengthened partnership with the IMF to sustain economic progress.
Minister Ngafuan also held separate meetings with top US government institutions, including the Millennium Challenge Corporation (MCC), US International Development Finance Corporation (DFC), and the White House Faith Office, aimed at securing additional development, investment, and humanitarian support for Liberia.
