WASHINGTON, DC – Liberia’s Finance and Development Planning Minister, Hon. Augustine Kpehe Ngafuan, held a high-level meeting with International Monetary Fund (IMF) Deputy Managing Director Mr. Bo Li on Thursday, July 10, 2025, at the IMF headquarters in Washington, D.C. The meeting, described as productive and forward-looking, focused on Liberia’s progress under the ongoing IMF Extended Credit Facility (ECF) and the country’s readiness for future support under the Resilience and Sustainability Facility (RSF).
According to a press release issued by the Ministry of Finance and Development Planning, Mr. Bo Li praised the Boakai administration for its leadership and commitment to reform. He commended the Liberian government’s efforts in reducing the fiscal deficit, improving public financial management, strengthening governance, and promoting private sector development. The Deputy Managing Director also requested that Minister Ngafuan convey the Fund’s appreciation to President Boakai for his contribution to reforms under the ARREST Agenda for Inclusive Development.
Deputy Managing Director Li informed Minister Ngafuan that the IMF Board is finalizing reports on the second review of the ECF program and the Article IV consultations. These developments are expected to pave the way for Liberia’s qualification for the IMF’s RSF, a facility designed to enhance resilience and climate adaptation in developing countries. As part of this process, the IMF will dispatch a climate public investment management assessment (c-PIMA) mission to Liberia at the end of July to evaluate the country’s capacity for climate-resilient investment.
Minister Ngafuan expressed gratitude to the IMF for its continued support, emphasizing that Liberia had made significant strides in economic management during challenging times. He highlighted the country’s recent election to a non-permanent seat on the UN Security Council for 2026–2027 as a boost to its economic diplomacy agenda. He also referenced President Boakai’s upcoming visit to the White House, which he said underscores the strength of US-Liberia relations.
The Finance Minister assured the IMF of the government’s ongoing commitment to fiscal responsibility and reform, while also welcoming future support through the RSF to finance Liberia’s climate resilience, agriculture, roads, and other infrastructure priorities.
While in Washington, Minister Ngafuan also visited the Millennium Challenge Corporation (MCC) on July 9, where he met with Acting CEO officials including Ms. Alicia Robinson-Morgan. Discussions focused on Liberia’s second Compact program, especially support for energy and road infrastructure. Ngafuan underscored Liberia’s appreciation for the MCC’s role in rehabilitating the Mount Coffee Hydropower Plant and stressed the urgency of moving forward with Compact II to address binding constraints to growth.
In response, Dr. Sohan Dasgupta acknowledged Liberia’s strong partnership with the United States and President Boakai’s development vision. He clarified that MCC operations have not been canceled but are under review by US Secretary of State Marco Rubio. He said the discussion with Minister Ngafuan would be relayed to Secretary Rubio for further consideration.
On July 8, Minister Ngafuan and his delegation also held talks with the US International Development Finance Corporation (DFC), where Senior Vice President Mateo Goldman expressed readiness to scale private sector investments in Liberia, particularly in energy, agriculture, and finance.
On July 10, Minister Ngafuan met with Mr. Dave Donaldson, Special Assistant to White House Faith Advisor Paula White, at the Faith Office in the White House. The discussions centered on mobilizing support for Liberia’s health and education sectors, which have been affected by reduced USAID funding. Mr. Donaldson assured that faith-based networks in the US would collaborate with government institutions to help Liberia preserve recent gains in those areas.
Meanwhile, Minister Ngafuan’s engagements in Washington reflect the Boakai administration’s push for deeper international partnerships aimed at securing economic stability, climate adaptation financing, and long-term development growth for Liberia.
