IMF Staff Concludes Staff Visit to Liberia

IMF News, June 25, 2026

Source details

IMF staff team led by Mr. Daehaeng Kim, Mission Chief for Liberia, visited Monrovia from June 10 – 23, 2026.
Purpose: conduct the Fourth Review under the Extended Credit Facility (ECF) arrangement and the First Review under the Resilience and Sustainability Facility (RSF) arrangement.
End-of-mission statement reflects preliminary findings of IMF staff and does not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.

Real GDP growth projected to remain buoyant at 5.5 percent in 2026, supported by:
- continued strong expansion in mining activities, primarily iron ore production,
- expansion in manufacturing and construction.
Inflation increased to 5.3 percent (y/y) in May 2026, up from 4 percent at end-2025, driven by a recent surge in global fuel prices; limited second-round effects so far amid the stable exchange rate and the low weight of fuel in the CPI basket.
Current account deficit projected to widen significantly in 2026 to about 18 percent of GDP from 7 percent of GDP in 2025, due to higher fuel imports and increased capital goods imports related to mining expansion and construction activities.
Medium-term outlook described as positive.

Program performance against quantitative targets is robust.
Fiscal performance expected to remain in line with program objectives, supported by continued progress in domestic revenue mobilization.
Authorities supported efforts to accelerate priority capital investment and targeted social spending on health, education, and vulnerable groups.
One-off bonus payment of US$200 million (3.5 percent of GDP) noted as supporting fiscal efforts.

IMF staff and the authorities held constructive program discussions and reached understanding on policies underpinning the fourth review of the ECF arrangement.
Discussions will continue in the coming days.

During the mission, the team met:
- H.E. Joseph N. Boakai, President of the Republic of Liberia;
- Mr. Augustine K. Ngafuan, Minister of Finance and Development Planning;
- Mr. Henry F. Saamoi, Executive Governor of the Central Bank of Liberia;
- senior government officials, and development partners.
IMF staff extended appreciation to the authorities and all counterparts for their hospitality and constructive engagement.

Press Release No. 26/224 — June 25, 2026.