Monrovia – The Liberia Maritime Authority (LiMA) on Wednesday, February 5, 2025, held discussions with the International Monetary Fund (IMF) to explore collaboration aimed at strengthening Liberia’s maritime sector. The meeting, held at LiMA’s headquarters in Monrovia, focused on fostering closer cooperation and identifying areas where IMF policies could support maritime development.
Leading the IMF delegation was Resident Representative in Liberia, Joel Chiedu Okwuokei, accompanied by economist Seydou Coulibaly and consultant Michael Keen. They were received by LiMA’s Commissioner and Chief Executive Officer, Cllr. Neto Zarzar Lighe Sr., who emphasized the Authority’s openness to working with the IMF to enhance regulatory and financial aspects of Liberia’s maritime operations.
During the meeting, LiMA’s Deputy Chief Financial Officer, Desiré Satia, provided an overview of Liberia’s maritime history, tracing its roots to 1948. He highlighted Liberia’s emergence as one of the world’s leading ship registries and underscored the sector’s crucial contribution to the country’s economy. He also stressed the need for ongoing reforms to maintain global competitiveness.
The discussions focused on how IMF policies and economic interventions could shape Liberia’s maritime sector, particularly in areas of regulatory reforms, financial management, and investment strategies. With maritime activities being a key source of national revenue, both parties acknowledged the importance of aligning policies to sustain growth and attract international investors.
LiMA officials expressed interest in leveraging IMF expertise to improve financial oversight and regulatory efficiency within the maritime industry. They highlighted the importance of maintaining global standards and ensuring that Liberia remains an attractive hub for ship registration and maritime services.
The IMF delegation, in response, reaffirmed the Fund’s commitment to working with Liberia to strengthen economic governance, which includes supporting institutions like LiMA in maintaining transparency, accountability, and financial discipline. The IMF representatives acknowledged the significant role the maritime sector plays in the country’s economy and pledged to explore avenues for further cooperation.
Both parties agreed to maintain open communication and explore concrete ways to enhance the efficiency and sustainability of Liberia’s maritime sector. They recognized the need for strategic reforms to address challenges such as compliance with international regulations, revenue optimization, and sectoral governance.
The meeting marks an important step in Liberia’s ongoing efforts to modernize its maritime industry and integrate it more effectively into the global economy. With the IMF’s technical support, LiMA aims to strengthen its financial structures and improve Liberia’s standing in the international maritime sector.
Further dialogue is expected as LiMA and the IMF seek to refine strategies that align with Liberia’s broader economic objectives. The engagement highlights the government’s commitment to fostering international partnerships that drive sustainable growth in key economic sectors.
