Liberia has secured a major boost to its economic reform and resilience agenda, following the International Monetary Fund (IMF) Executive Board’s approval of a 21‑month financing arrangement under the Resilience and Sustainability Facility (RSF), amounting to approximately US$266 million (SDR 193.8 million).
An IMF release issued April 27, 2026, hailed Liberia’s strong economic momentum, noting that growth accelerated in 2025 to 5.1 percent, driven largely by expanded mining production. The Fund also highlighted that the political environment remains supportive of reforms under the government’s flagship ARREST Agenda for Inclusive Development.
The RSF financing will support Liberia’s climate adaptation efforts, resilient infrastructure, and pandemic preparedness. It is expected to catalyze external financing, strengthen balance‑of‑payments support for the Central Bank of Liberia, and leverage synergies with other development partners.
Following the Board discussion, IMF Acting Chair and Deputy Managing Director Bo Li praised Liberia’s progress on macroeconomic management and structural reforms. “Fiscal adjustment has helped reduce debt vulnerabilities.
Expenditure rationalization has supported the reallocation of resources toward priority investment projects and critical social programs, but further progress is needed,” he said. He added that temporary subsidies had been introduced to cushion the impact of elevated oil prices, while a supplementary budget increased allocations to social spending without undermining fiscal discipline.
Finance and Development Planning Minister Augustine Kpehe Ngafuan welcomed the IMF’s decision, describing it as a vote of confidence in Liberia’s reform trajectory. “We are elated that our country has been approved to receive additional financing under the RSF. The journey began in October 2024, and we met the benchmarks and indicators required to qualify. This approval reflects Liberia’s commitment to sustainable development and macroeconomic stability,” he said.
Ngafuan credited President Joseph Nyuma Boakai’s leadership and thanked IMF partners for their support. He explained that disbursements of the US$266 million will be spread over 21 months, contingent on meeting specific triggers for each tranche.
The approval underscores growing international confidence in Liberia’s economic governance. The RSF financing will back reforms aimed at strengthening macroeconomic stability, enhancing climate resilience, and improving institutional capacity. During the recent IMF/World Bank Spring Meetings in Washington, Ngafuan briefed officials on the potential impact of the Middle East crisis on Liberia’s economy and outlined measures to mitigate external shocks.
Meanwhile, the IMF Board also concluded the third review of Liberia’s 40‑month Extended Credit Facility (ECF), authorizing an immediate disbursement of US$26.49 million. Total disbursements under the ECF have now reached about US$105.96 million.
Liberia’s ECF arrangement, amounting to US$223 million, was approved in September 2024 to support the government’s program to restore macroeconomic stability, ensure debt sustainability, safeguard financial stability, and strengthen governance.
With the RSF and ECF financing combined, Liberia is positioned to sustain reform momentum, strengthen economic governance, and leverage international partnerships to drive inclusive growth. The IMF’s endorsement signals that Liberia’s reform path is gaining traction, but the challenge remains to translate financing into tangible improvements for citizens.
