An International Monetary Fund (IMF) staff team, led by Mission Chief for Liberia Mr. Daehaeng Kim, has concluded a two-week mission to Monrovia, conducting the Fourth Review under the Extended Credit Facility (ECF) arrangement and the First Review under the Resilience and Sustainability Facility (RSF) arrangement.
The mission, which ran from June 10 to 23, 2026, assessed macroeconomic developments and held programme discussions with the Liberian authorities on policies underpinning the fourth ECF review.
Real GDP growth is projected to remain buoyant at 5.5 percent in 2026, supported by continued strong expansion in mining activities alongside growth in manufacturing and construction.
Inflation increased only modestly to 5.3 percent year-on-year in May 2026, up from 4 percent at end-2025, despite the recent surge in global fuel prices. The Mission Chief noted that the limited increase reflects the low weight of fuel in Liberia’s Consumer Price Index basket and limited second-round effects, supported by a stable exchange rate.
Fiscal performance is expected to remain in line with programme objectives, underpinned by continued progress in domestic revenue mobilisation.
The IMF noted that Liberia’s current account deficit is projected to widen significantly in 2026 to approximately 18 percent of GDP, up from 7 percent of GDP in 2025 with Mr. Kim attributing this to higher fuel imports and increased capital goods imports related to mining expansion and construction activities.
Despite the projected widening, the Mission Chief stated that the medium-term outlook remains positive.
Mr. Kim further stated that IMF staff and the Liberian authorities held constructive programme discussions and reached understanding on the policies underpinning the fourth ECF review, with discussions set to continue in the coming days.
The IMF mission held meetings with President Joseph N. Boakai, Minister of Finance and Development Planning Augustine K. Ngafuan, Central Bank of Liberia Executive Governor Henry F. Saamoi, and other senior government officials and development partners during the visit.
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