Washington, DC: An International Monetary Fund (IMF) staff team, led by Mr. Daehaeng Kim, Mission Chief for Liberia, visited Monrovia from November 6 – 19, 2024, to conduct the First Review of the Extended Credit Facility (ECF) arrangement approved on September 25, 2024.
At the conclusion of the mission, Mr. Kim issued the following statement:
"The IMF team held collaborative and constructive discussions with the authorities regarding the progress made since the approval of the ECF arrangement and the policies for the future. The team is encouraged by the robust economic activity, ongoing stability of prices and exchange rates, and the strong fiscal outturn. The team also welcomes the authorities' steadfast commitment to the economic reforms supported by the ECF arrangement.
"IMF staff and the authorities have reached understandings on most macroeconomic policies under the program. A few issues remain to be discussed further in the coming days. They look forward to continuing constructive discussion on the remaining issues, with a view to finalizing the staff-level agreement in coming weeks.
"The IMF team would like to thank the authorities and all other counterparts for their hospitality and constructive discussions."
The team met with President Joseph N. Boakai, leadership of the Senate, Minister of Finance and Development Planning, Mr. Augustine K. Ngafuan, Acting Executive Governor of the Central Bank of Liberia, Mr. Henry F. Saamoi, Senior Government Officials, and Development Partners.
