The International Monetary Fund (IMF) Executive Board has approved a 21-month financing arrangement for Liberia under the Resilience and Sustainability Facility (RSF), amounting to approximately US$266 million (SDR 193.8 million).
According to an IMF release issued on April 27, 2026, Liberia’s economic performance continues to show strong momentum. The Fund noted that “economic growth accelerated in 2025 to 5.1 percent, largely driven by an expansion in mining production,” while highlighting that the political environment remains supportive of reforms under the government’s national development framework, the ARREST Agenda for Inclusive Development.
The Resilience and Sustainability Facility will support the implementation of the Liberian government’s climate adaptation efforts and resilient infrastructure, as well as enhance pandemic preparedness. It will also leverage synergies with other development partners and help catalyze external financing and balance of payment support to the Central Bank of Liberia.
Following the Executive Board discussion, Bo Li, Acting Chair and Deputy Managing Director, praised the Liberian government for maintaining sound macroeconomic policies and making some progress on structural reforms.
“Fiscal adjustment has helped reduce debt vulnerabilities. Expenditure rationalization has supported the reallocation of resources toward priority investment projects and critical social programs, but further progress is needed in this regard.
“To mitigate the impact of elevated oil prices, the authorities have introduced temporary and targeted subsidies to support public transportation. The recently adopted supplementary budget will allow for higher allocation to social spending while preserving fiscal discipline,” he noted.
Reacting to the IMF Board’s decision, the Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, said, “We are elated that our country has been approved to receive additional financing for development and macroeconomic stability under the RSF. The journey that led to Liberia’s qualification under the RSF began in October 2024. We thank President Joseph Nyuma Boakai for his leadership and guidance throughout this journey. To qualify for the RSF, we took many measures and met many benchmarks and indicators, proving worthy of the IMF’s support. I want to thank all those who supported us at the IMF Board, including the Liberia mission team, for the excellent partnership. Disbursements of the 266 million RSF funding will be done over 21 months after appropriate triggers for the disbursement for a specific tranche are met.”
Minister Ngafuan emphasized that the approval reflects growing international confidence in Liberia’s reform trajectory and commitment to sustainable development. He noted that the RSF financing will support critical reforms aimed at strengthening macroeconomic stability, enhancing climate resilience, and improving institutional capacity.
It can be recalled that during the recent IMF/World Bank Meetings in Washington DC, Minister Ngafuan briefed IMF officials on the potential impact of the on-going Middle East crisis on Liberia’s economy and outlined measures being implemented by the government to mitigate external shocks.
Meanwhile, the IMF’s Board has also concluded the third review of the 40-month arrangement under the Extended Credit Facility (ECF), allowing an immediate disbursement of US$26.49 million.
Total disbursement under the ECF arrangement has now reached about US$105.96 million.
Liberia’s ECF arrangement, amounting to 223 million, was approved by the IMF Executive Board on September 25, 2024, to support the Liberian government’s program to restore macroeconomic stability, ensure debt sustainability, safeguard financial stability, and strengthen governance.
The Government of Liberia (GOL) says it remains steadfast in sustaining reform momentum, strengthening economic governance, and leveraging international partnerships to drive inclusive growth and long-term national development.
