The Minister of Finance and Financial Growth, Augustine Ngafuan, lauds the Central Financial institution of Liberia (CBL) for its efficient Financial Coverage and rising position in stabilizing the nation’s financial system.
By Lewis S. Teh
Monrovia, Liberia; July 24, 2025 – Finance and Growth Planning Minister, Augustine Kpehe Ngafuan, has praised the Central Financial institution of Liberia (CBL) for its transparency and rising position in stabilizing the nation’s financial system, whereas pledging stronger collaboration between the fiscal and financial authorities to speed up growth and enhance lives of odd Liberians.
Talking on Wednesday, July 23, 2025, through the official launch of the Central Financial institution’s Financial Coverage Communiqué studying, Minister Ngafuan recounted his skilled roots on the Financial institution and known as for deeper institutional coordination in tackling Liberia’s financial challenges.
“For me, coming right here is all the time somber as a result of it’s like coming house,” Ngafuan started, reminiscing on his early days as a financial institution examiner within the Supervision Division underneath former Govt Governor Elie Saleeby.
“This place has all the time been a spot of benefit, a spot of honor,” he mentioned, noting that many professionals who’ve served on the Financial institution now occupy key roles in each authorities and the non-public sector.”
He additionally recalled working underneath late Governor Charles Inexperienced upon his return from graduate college in 2004, noting that sitting in Financial Coverage Committee conferences helped him achieve deep insights into the nation’s financial operations.
He applauded the Central Financial institution’s choice to publicly talk its financial coverage actions by means of an open discussion board—a apply he described as lengthy overdue. “Let me congratulate you, Honorable Governor, and the staff, the Board, for this.”
He famous this reveals that “we acknowledge that we’re not good women and men. We are available in humility. We come to listen to from our folks.”
He emphasised that the Central Financial institution and the Ministry of Finance are like “Siamese twins,” whose successes are intrinsically linked, saying, “Regardless of how properly we work, if we wouldn’t have the help of the Central Financial institution, we’ll fail. And regardless of how properly you’re employed, if you happen to wouldn’t have our help, you’ll fail.”
In his remarks, Minister Ngafuan prolonged glowing reward to Central Financial institution Govt Governor Henry F. Saamoi, whom he described as a long-time educational {and professional} standout.
He expressed admiration for Governor Saamoi’s seamless transition from the non-public banking sector to the often-chaotic realm of public service.
“Authorities”, he famous, “is a tricky place. However I’ve been impressed by watching the seamless transition. I’ve seen his brilliance, his diplomacy, and the poignancy of his arguments serving to us make a robust case for Liberia.”
Turning to the urgent points impacting financial effectivity, Ngafuan highlighted the urgency of enhancing Liberia’s fee structure, notably the event of a 24-hour fee change system to cut back delays on the port and throughout commerce.
.“Each time there are delays in clearing items on the port, demurrage is charged, and importers move these prices on to shoppers”, he famous. Modifying by Jonathan Browne
