The Executive Board also concluded the third review of Liberia’s existing Extended Credit Facility (ECF) programme, unlocking an immediate disbursement of $26.49 million. Total disbursements under the ECF have reached $105.96 million.

The ECF arrangement, approved on September 25, 2024, for $210 million, supports reforms aimed at restoring macroeconomic stability, ensuring debt sustainability, safeguarding financial stability, and strengthening governance under the national development plan, known as the ARREST Agenda for Inclusive Development.

IMF reporting indicates economic growth accelerated to 5.1% in 2025, driven largely by increased mining production, with reform momentum supported by a stable political environment.

IMF Deputy Managing Director Bo Li, acting as Chair, said sound macroeconomic policies and structural reforms have supported robust performance, while global conditions have worsened due to elevated oil prices and reduced bilateral assistance, increasing downside risks.

IMF guidance highlighted continued fiscal adjustment and expenditure rationalisation as key to reducing debt vulnerabilities and protecting priority investment and social programmes. IMF commentary also referenced temporary and targeted subsidies for public transport to cushion the impact of higher oil prices, alongside a supplementary budget intended to increase social spending while preserving fiscal discipline.

Domestic revenue mobilisation remains a central priority, with planned reforms including value‑added tax rollout in 2027, mining taxation reform and rationalisation of tax exemptions.

The Central Bank of Liberia is expected to maintain data‑dependent monetary policy and continue strengthening financial regulation, including enforcement of bank restructuring plans and efforts to reduce non‑performing loans.

The RSF arrangement is intended to support climate adaptation and pandemic preparedness and to help catalyse additional external financing alongside the ECF reform agenda.

–IMF/ChanelAfrica–