By Lincoln G. Peters
The Worldwide Financial Fund (IFM), by way of its Employees staff, has expressed appreciation and nice opinion relating to Liberia’s financial outlook, following conclusion of a consultative go to to Monrovia.
The IMF employees staff, headed by Mr. Daehaeng Kim, Mission Chief for Liberia, visited Monrovia from June 4 – 17, 2025. The target of the visitation is to conduct the 2025 Article IV Session and the Second Assessment below the Prolonged Credit score Facility (ECF) association.
The group, in its assertion, disclosed that the Coverage dialogue below the Article IV Session focuses on structural reforms to sort out important growth wants, mitigate local weather dangers, and promote personal sector development and financial diversification to realize sustained and inclusive development.
Throughout its go to right here, the staff met with management of the 55th Liberian Legislature, Minister of Finance and Growth Planning, Augustine Ok. Ngafuan, Government Governor of the Central Financial institution of Liberia, Mr. Henry F. Saamoi, senior authorities officers, growth companions, representatives of the personal sector, and civil society.
Following the conclusion of the Employees go to to Liberia, the staff issued a press assertion however clarified that the end-of-mission press releases embody statements of IMF employees groups that convey preliminary findings after a go to to a rustic.
Henceforth, the views expressed within the assertion are these of the IMF employees and don’t essentially characterize the views of the IMF’s Government Board; due to this fact, the mission won’t lead to a Board dialogue.
The IMF Employees staff, in its press launch dated June 17, 2025, cataloged the go to and dialogue held with related stakeholders and establishments.
In the meantime, the staff led by Mr. Kim in a press assertion mentioned that the IMF employees held partaking and constructive discussions with Liberian authorities on latest macroeconomic developments, financial outlook, and medium-term coverage priorities below the Article IV Session, in addition to the efficiency and insurance policies supported by the Prolonged Credit score Facility association.
“IMF employees and the Liberian authorities have reached an understanding on most key macroeconomic insurance policies for the second assessment of the ECF association. Discussions on a couple of excellent points will proceed nearly, to finalize the employees degree settlement (SLA) within the coming weeks. IMF employees categorical its gratitude to the authorities and all different counterparts for his or her heat hospitality and constructive engagement”, the assertion famous.
The staff famous that in conversations right here, it established that the Liberian authorities have continued to make progress in sustaining macroeconomic stability, and their dedication to reform stays robust.
“Gradual mining exercise and financial adjustment have been key components that moderated financial exercise in 2024. A big discount in unproductive expenditures mixed with restoration of tax revenues contributed to a powerful fiscal outturn, with the first fiscal stability enhancing from a deficit of 4.2 % of GDP in 2023 to a surplus of 1.3 % of GDP in 2024. Inflation reached 13.1 % in February 2025, pushed primarily by home meals costs, however has come right down to 11.7 % in Could. The present account has improved considerably. Total, program efficiency has been broadly passable”, the assertion identified.
The group additional indicated that the medium-term outlook of Liberia has been marked down because of the sudden cease of support flows and fewer favorable international surroundings.
Additionally, the expansion outlook of Liberia is supported by a rebound in mining exercise, a restoration in agriculture, and sustained development in manufacturing and providers.
“Inflation is projected to return to single digits, supported by prudent fiscal and financial insurance policies and projected decrease international meals and crude oil costs. The present account is anticipated to slender additional, whereas the debt-to-GDP stays on a sustainable path”, the assertion concluded. Enhancing by Jonathan Browne
