## IMF Staff Completes Mission to Liberia

_IMF News, July 5, 2024_

## Source details

**Canonical URL:** [IMF Staff Completes Mission to Liberia](https://www.imf.org/en/news/articles/2024/07/05/pr24261-liberia-imf-staff-concludes-mission)

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## Bibliographic details
- Published: July 5, 2024

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### Mission overview
- Press Release No. 24/261
- Mission dates: June 24 – July 5, 2024
- Purpose: Discuss with the Liberian authorities a new Extended Credit Facility (ECF) arrangement to support the new administration’s implementation of an ambitious reform agenda.
- Mission leader: Mr. Daehaeng Kim, Mission Chief for Liberia
- Next steps: Discussions will continue in the coming days to finalize the staff-level agreement, aiming to bring Liberia’s request for the new IMF-supported program to the IMF’s Executive Board in September 2024.

### IMF staff assessment and preliminary findings
- The authorities’ efforts to tackle immediate policy challenges and restore policy credibility are proceeding well.
- Fiscal: Authorities have streamlined recurrent public spending and enhanced revenue management, which have significantly reduced the fiscal deficit in the first five months of 2024.
- Monetary and external sector:
  - Current prudent monetary policy stance has contributed to a gradual decrease in inflation to single digits.
  - Monetary policy stance has contributed to a stable exchange rate.
- Policy priorities welcomed by the IMF team:
  - Restoring fiscal sustainability
  - Rebuilding external reserves
  - Revitalizing a reform agenda to tackle issues related to governance and corruption

### Program discussions and outstanding issues
- Consensus achieved on:
  - Primary goals of a new IMF-supported program
  - Most of the key policies to underpin the program
- Outstanding items:
  - A few policy issues require additional discussions before finalizing a staff-level agreement.

### Stakeholders met
- President Joseph N. Boakai
- Leadership of the National Legislature
- Minister of Finance and Development Planning Boima Kamara
- Executive Governor of the Central Bank J. Aloysius Tarlue
- Senior government officials
- Development partners

### Communications
- IMF Communications Department, MEDIA RELATIONS
- PRESS OFFICER: Julie Ziegler
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- @IMFSpokesperson

*IMF Staff Completes Mission to Liberia — July 5, 2024*

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## References

- [Liberia and the IMF](http://www.imf.org/external/country/LBR/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2024/07/05/pr24261-liberia-imf-staff-concludes-mission_