IMF Staff Country Reports

On September 25, 2024, the Board approved a forty-month arrangement under the
Extended Credit Facility to support the authorities’ new 5-year development plan Arrest Agenda
for Inclusive Development (AAID). The overarching objective of this plan is to preserve
macroeconomic stability, by restoring fiscal and debt sustainability, enhancing financial sector
stability, and mobilizing additional external resources to address large infrastructure gaps. While
Liberia has benefited from significant amounts of external support, the recent termination of the
USAID support calls for more efforts to raise revenues and catalyze donor financing. The
authorities’ policy actions in the first year of the program have yielded satisfactory results. The
fiscal primary balance has improved substantially through increasing tax revenues and
rationalizing recurrent spending; and reforms in other areas have advanced, although at a
slower pace than previously envisaged.