MONROVIA, Liberia — The International Monetary Fund (IMF) has reached a staff-level agreement with the Government of Liberia that could make approximately US$50 million available to the country, pending approval by the IMF’s management and Executive Board.
The agreement, announced on July 28, 2026, concludes discussions on the latest reviews of Liberia’s economic reform programs supported by the IMF under the Extended Credit Facility (ECF) and the Resilience and Sustainability Facility (RSF).
The IMF emphasized that the agreement is not yet final. The proposed financing remains subject to approval by the IMF’s Executive Board, which is expected to consider the package during its meeting in late September 2026.
Economic Outlook
According to the IMF, Liberia’s economy is expected to grow by 5.5 percent in 2026, with expansion primarily driven by the mining, construction, and manufacturing sectors.
The Fund also reported that inflation averaged 4.5 percent during the first half of 2026, reflecting relatively stable price conditions. However, it warned that inflation could rise to approximately 6 percent later in the year due to both domestic and external economic pressures.
Purpose of the Financing
If approved, the financing is intended to support Liberia’s ongoing economic reform agenda, strengthen macroeconomic stability, and help advance climate resilience initiatives under the IMF-supported programs.
The IMF said the reforms are designed to improve fiscal management, strengthen public institutions, enhance economic resilience, and support sustainable long-term growth.
Key Officials
The staff-level agreement was reached between IMF staff and the Liberian authorities following policy discussions in Monrovia.
The IMF mission was led by Mr. Daehaeng Kim, the IMF Mission Chief for Liberia. On the Liberian side, discussions involved officials from the Ministry of Finance and Development Planning, led by Finance and Development Planning Minister Augustine Kpehe Ngafuan, along with representatives of the Central Bank of Liberia, headed by Executive Governor Henry F. Saamoi.
Why It Matters
If the IMF Executive Board approves the agreement, the approximately US$50 million in financing would provide Liberia with additional resources to support economic stability, strengthen public finances, and implement climate-related reforms.
While the IMF’s growth forecast suggests continued economic expansion, the institution cautioned that rising inflation and global economic uncertainties remain important risks. The Board’s decision in September will determine whether the funding is formally released.
The IMF said it will publish additional details after the Executive Board completes its review later this year.