Meets IMF Deputy Managing Director, US Government Officials.
Washington DC, USA – The Deputy Managing Director of the International Monetary Fund (IMF), Mr. Bo Li, and Hon. Augustine Kpehe Ngafuan, Minister of Finance and Development Planning, conducted a high-level, discussion by slideline in Washington, DC, USA.
The IMF Deputy Chief during the meeting said, the IMF is extremely impressed with the progress Liberia is making under the ongoing IMF Extended Credit Facility (ECF) program with Liberia. This is demonstrated by the significant advancements made in the areas of fiscal deficit reduction, improved PFM reforms, governance strengthening, and measures to support the growth of the private sector.
In addition to praising Liberia’s President Joseph N. Boakai for his leadership and dedication to the country’s development, the IMF’s Deputy Managing Director asked Minister Ngafuan to express the Fund’s appreciation for President Boakai’s significant contribution to reforms and implementation under the ARREST Agenda for Inclusive Development (AAID).
The IMF Deputy Chief told the Liberian Finance Minister that the IMF Board is finishing up the reports from the recently concluded 2nd ECF review and Article IV consultations. This will open the door for Liberia to eventually join the IMF’s Resilience Sustainability Facility (RSF), which will offer a substantial amount of funding to help Liberia improve its climate resilience and adaptation.
The IMF intends to send a climate policy diagnostic mission to Liberia at the end of this month to carry out a climate public investment management assessment (c-PIMA), Deputy Managing Director Li told Minister Ngafuan.
In addition to determining the important actions required to improve Liberia’s resilience and adaptation to climate risk, the c-PIMA study will also provide information on the potential amount of funding that Liberia may require under the RSF.
The IMF will hold a donor roundtable with development finance institutions (DFIs) and other financiers to gather more support for creative financing for Liberia’s AAID priorities and climate resilient infrastructures, Deputy Managing Director Li continued, possibly in 2026, following Liberia’s qualification for the RSF.
As part of President Joseph Boakai’s delegation in the United States, Finance Minister Augustine Kpehe Ngafuan responded by expressing the Liberian leader’s sincere gratitude to the IMF’s Managing Director and senior management for their unwavering support of Liberia’s growth.
Minister Ngafuan expressed gratitude to the IMF management for helping Liberia through challenging circumstances, which has allowed it to make impressive strides toward fulfilling its development aspirations. He updated the Fund on Liberia’s 2026 and 2027 elections for a non-permanent member seat on the UN Security Council, which will significantly further Liberia’s economic diplomacy agenda, among other things.
Additionally, he told Deputy Manager Li that President Boakai’s visit to the White House at the invitation of US President Donald Trump is a testament to the robust bilateral ties between the US and Liberia, which the Liberian government is using to support economic growth through trade and private sector investment.
Minister Ngafuan also conveyed gratitude for the IMF’s dedication to helping Liberia fulfill the conditions necessary to qualify for the Resilience Sustainability Facility, which will provide Liberia with substantial financial flexibility to invest in infrastructure, such as roads and bridges, and agriculture in order to strengthen the country’s climate resilience.
He assured the Fund of the Liberian government’s commitment to responsible fiscal management and will continue the strong partnership with the IMF to sustain and scale the positive improvements in PFM reforms and sound economic management. Minister Ngafuan informed the MCC team of Liberia’s election for a non-permanent member seat on the UN Security Council for 2026 & 2027, which will have a positive effect on Liberia’s economic diplomacy agenda.
In response, Dr. Sohan Dasgupta acknowledged the strong and historic relationship between Liberia and the United States, and the good vision of President Joseph Nyuma Boakai’s national development plan, the ARREST Agenda for Inclusive Development (AAID).
He stated that the US government values the strong partnership with Liberia and looks forward to strengthened partnership between the MCC and Liberia in the years ahead. He clarified that compact operations under the MCC have not been cancelled but are currently under review by the US Secretary of State Marco Rubio.
Meanwhile, on Thursday, July 10, 2025, Finance Minister Augustine Ngafuan also held discussions with Mr. Dave Donaldson, Special Assistant to President Trump’s Spiritual Advisor Paula White. The discussions focused on support to Liberia’s education and health sectors, which were both heavily impacted by the cancellation of several projects funded by the United States Agency for International Development (USAID).
Mr. Donaldson assured Minister Ngafuan that the White House Faith Office headed by Ms. Paula White will work with US government institutions and faith-based institutions to mobilize support to help Liberia sustain the gains it is making in the two sectors. The meeting was held in the Faith Office at the White House and was arranged by Spiritual Advisor Paula White.
