Monrovia, April 29, 2026: The International Monetary Fund (IMF) Executive Board has approved a 21-month financing arrangement for Liberia under the Resilience and Sustainability Facility (RSF), providing approximately US$266 million (SDR 193.8 million).
The funding is to support the country’s ongoing economic reforms and efforts to build resilience.
The decision, announced on Tuesday, April 27, 2026, has been welcomed by the Liberian government as a major boost to its economic reform and resilience agenda.
Liberia’s economic outlook remains positive, with the IMF noting that economic growth accelerated to 5.1% in 2025, primarily driven by increased mining production.
The supportive political environment continues to facilitate reforms within the framework of the government’s ARREST Agenda for Inclusive Development.
The RSF financing will help Liberia advance climate adaptation initiatives, strengthen resilient infrastructure, and enhance preparedness for pandemics.
It is also expected to mobilize additional support from development partners and bolster the Central Bank of Liberia’s external financing and balance of payments position.
Mr. Bo Li, Acting Chair and Deputy Managing Director of the IMF, commended Liberia for maintaining sound macroeconomic policies and advancing structural reforms.
He highlighted that fiscal adjustments have reduced debt vulnerabilities and enabled greater investment in priority projects and social programs.
However, he emphasized the need for continued progress, especially in expenditure rationalization and social spending.
To cushion the impact of high oil prices, the government has introduced targeted subsidies for public transportation and adopted a supplementary budget to allocate more resources to social spending while maintaining fiscal discipline.
Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, expressed gratitude for the IMF’s support, noting that Liberia’s qualification for the RSF was the result of sustained efforts and fulfillment of key benchmarks.
He stressed that the approval signifies growing international confidence in Liberia’s reform agenda and commitment to sustainable development.
According to Minister Ngafuan, the RSF funding will be disbursed over 21 months, based on the achievement of specific milestones.
The IMF Board also concluded the third review of Liberia’s 40-month Extended Credit Facility (ECF) arrangement, allowing an immediate disbursement of US$26.49 million. Total ECF disbursements to date now stand at about US$105.96 million.
The ECF program, approved in September 2024, aims to restore macroeconomic stability, ensure debt sustainability, safeguard financial stability, and strengthen governance in Liberia.
The Liberian government remains committed to continuing its reform momentum, enhancing economic governance, and leveraging international partnerships to promote inclusive growth and long-term national development.
