The International Monetary Fund (IMF) has approved a 40-month Extended Credit Facility (ECF) arrangement worth $209 million for Liberia. The decision was made during a Board meeting on Wednesday, September 25, 2024.
Liberia’s Finance and Development Planning Minister, Augustine Kpehe Ngafuan, hailed the approval as a significant milestone towards fostering fiscally responsible and sustainable development.
He emphasized that the IMF’s decision reflects confidence in the partnership between Liberia and the global financial institution.
Ngafuan attributed the achievement to a collective effort led by President Joseph Nyumah Boakai, praising the President’s leadership and commitment.
He also extended his appreciation to the National Legislature, the Central Bank of Liberia, the Ministry of Finance and Development Planning, the Liberia Revenue Authority, and other government stakeholders for their roles in securing the ECF arrangement.