Africa-Press – Liberia. On the margins of the ongoing IMF/World Bank Spring Meetings in Washington, D.C., Liberia’s Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, held a strategic meeting with Daehaeng Kim and his delegation from the International Monetary Fund, focusing on Liberia’s response to global economic shocks and its path toward long-term resilience.
The high-level engagement centered on the growing impact of the ongoing crisis in the Middle East on Liberia’s economy, with Minister Ngafuan outlining how external disruptions are affecting domestic stability.
He noted that rising global uncertainties—particularly in energy and supply chains—are placing pressure on Liberia’s economic outlook, requiring timely and coordinated policy responses.
Ngafuan informed the IMF team that the Liberian government has already initiated measures to mitigate the effects of these shocks, while maintaining a careful balance between fiscal discipline and social protection.
He stressed that safeguarding vulnerable populations remains a central pillar of the government’s strategy, even as it navigates constrained fiscal space.
“We remain committed to disciplined fiscal management while protecting vulnerable populations,” Ngafuan emphasized, reaffirming Liberia’s commitment to responsible economic stewardship.
The Finance Minister also welcomed the continued support of the World Bank and the IMF, noting that sustained collaboration with international partners is essential as Liberia works to consolidate development gains and sustain inclusive growth in a volatile global environment.
In response, IMF Mission Chief Daehaeng Kim commended Liberia for what he described as prudent management of its economy despite mounting external pressures.
He reiterated the Fund’s commitment to working closely with the Liberian government to advance its development priorities and strengthen economic resilience.
Significantly, Kim disclosed that Liberia is on course for approval by the IMF Executive Board of its application to the Resilience and Sustainability Fund (RSF)—a key financing mechanism aimed at supporting climate resilience and sustainable development.
Once approved, the RSF is expected to provide substantial financial resources over a two-year period to support Liberia’s climate-smart development initiatives. The funding will play a critical role in enhancing the country’s capacity to respond to climate-related risks while reinforcing broader economic stability.
The meeting underscores Liberia’s proactive engagement with global financial institutions at a time of heightened economic uncertainty.
By combining immediate crisis response measures with long-term resilience planning, the government is seeking to position the country for sustainable growth while mitigating the impact of external shocks.
As discussions continue in Washington, Liberia’s engagement with the IMF signals a broader strategy to secure both financial and technical support—ensuring that the country remains on a steady path toward economic stability, climate resilience, and inclusive development.
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