As Government Moves To Restore Bank Confidence
Monrovia, Liberia – Liberia’s Finance Minister, Augustine Ngafuan, has stated that in order to strengthen the country’s financial system and restore trust among commercial banks, the government has begun a major fiscal reset.
Speaking at the Liberian Bank for Development and Investment’s (LBDI) 60th anniversary celebration on Friday, December 12, 2025, he said that the administration is actively working to meet its financial commitments and restore its reputation as a trustworthy partner to the banking sector.
Minister Ngafuan emphasized that the government no longer plans to be a liability to commercial banks and stated, “Things are looking up for this country. We are making a conscious effort to fulfill our responsibilities so that trust can grow again.”
He admitted that in previous years, a lack of trust in government financial pledges had strained relations with banks, causing many institutions to remove themselves, according to an MFDP announcement. The Finance Minister claims that time is coming to an end.
You fled when you heard the word “government” years ago. He declared, “That is no longer the case.” “Now that you are returning, we will encourage others to do the same.”
Minister Ngafuan said that debt servicing has been elevated as a major financial priority, with roughly US$90 million put aside in the upcoming fiscal year to settle commitments owed to commercial banks, demonstrating a renewed sense of seriousness.
He underlined, “Debt servicing is one of the key appropriations in this year’s budget—very huge.” “We want to win back your trust so you can do what you do best—power the private sector.” He emphasized that the growth of the private sector and the advancement of the country depend on a stable and reliable banking industry, and he added that the government is committed to fulfilling its obligations.
Additionally, Minister Ngafuan highlighted improved cooperation with the Central Bank of Liberia and changes aimed at reviving the economy and eliminating long-standing economic obstacles. To address the growth limits, we are taking significant steps,” he said. “The private sector is unlocked, the banking sector is enabled, and together we become the engine of economic growth when we unlock those constraints.”
Regarding financial innovation, the Finance Minister emphasized forthcoming projects on mobile money platform interoperability, characterizing them as essential to expanding financial inclusion and stimulating economic growth.
The commemoration of the LBDI anniversary, which commemorates 60 years of the bank’s contribution to Liberia’s development, served as a backdrop for the government and financial institutions to reaffirm their commitment to maintaining economic recovery and accelerating growth.
