The Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, has successfully secured new commitments and strong endorsements from the International Monetary Fund (IMF) and key United States institutions to bolster Liberia's national development efforts under President Joseph Nyuma Boakai's administration.
The high-level engagements took place during Minister Ngafuan's visit to Washington, D.C., as part of President Boakai's official mission to the United States. The meetings focused on deepening financial partnerships, mobilizing climate resilience resources, and enhancing trade and investment opportunities for Liberia.
During a pivotal meeting held on Thursday, July 10, at IMF Headquarters, Deputy Managing Director Bo Li praised Liberia's performance under the IMF's Extended Credit Facility (ECF) program. He highlighted the country's significant progress in reducing its fiscal deficit, strengthening governance systems, and implementing reforms in public financial management (PFM) and private sector development.
"The IMF is very impressed by the progress Liberia is making under the ECF program," said Mr. Li. "We have observed remarkable efforts in fiscal management, governance, and creating an enabling environment for private sector-led growth. Please convey our commendation to President Boakai for his exemplary leadership and commitment to inclusive development."
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Deputy Managing Director Li also announced that the IMF Board is finalizing reports on the recently concluded Second ECF Review and Article IV consultations with Liberia. He said the completion of these reviews will pave the way for Liberia's eligibility for the IMF's Resilience and Sustainability Facility (RSF)--a landmark opportunity that would provide substantial funding for climate adaptation and sustainable infrastructure.
"We are planning to deploy a Climate Public Investment Management Assessment (c-PIMA) mission to Liberia later this month," Li said. "The findings will identify critical climate interventions and inform the level of support Liberia will receive under the RSF."
He added that once Liberia qualifies--likely in 2026--the IMF will convene a donor roundtable with development finance institutions (DFIs) to mobilize additional resources for Liberia's ARREST Agenda for Inclusive Development (AAID) and climate-resilient infrastructure.
In response, Finance Minister Ngafuan conveyed appreciation on behalf of President Boakai and the Liberian people.
"We are deeply grateful to the IMF for its steadfast support during Liberia's most challenging periods," he said. "Your partnership has enabled us to lay a strong foundation for economic recovery and transformation."
Minister Ngafuan reiterated Liberia's commitment to sound economic governance and emphasized the importance of access to the RSF as a means to expand climate-smart investment in agriculture, roads, and infrastructure.
"The Resilience and Sustainability Facility will provide us with the fiscal space to invest in sectors critical to growth and climate adaptation. We assure the Fund of our unwavering commitment to fiscal discipline, transparency, and reform."
He also informed the IMF about Liberia's election to a non-permanent seat on the UN Security Council for 2026-2027, noting that this achievement enhances the country's international standing and economic diplomacy efforts.
"President Boakai's recent visit to the White House at the invitation of President Donald Trump underscores the deepening U.S.-Liberia partnership. We intend to leverage this relationship to attract trade and investment into Liberia," Ngafuan added.
On July 9, Minister Ngafuan and Deputy Finance Minister for Economic Management Dehpue Zuo visited the Millennium Challenge Corporation (MCC), where they held productive discussions with senior officials, including Ms. Alicia Robinson-Morgan, Managing Director for Compact Operations.
Minister Ngafuan expressed gratitude for MCC's support, particularly its contribution to the rehabilitation of the Mount Coffee Hydropower Plant, which he described as "transformational for Liberia's energy sector."
"Liberians were proud to be selected in December 2024 for eligibility for a second MCC compact," Ngafuan said. "We are eager to accelerate progress in energy access, road infrastructure, and other areas that can unlock inclusive economic growth."
In response, Dr. Sohan Dasgupta, the MCC's Acting Chief Executive, praised Liberia's reform efforts and reiterated the United States' strong historic ties with the country.
"Liberia's development plan under the ARREST Agenda shows real vision," Dr. Dasgupta said. "We value our partnership and are hopeful that the compelling points you've raised will be helpful as discussions continue at the State Department."
He clarified that MCC compact operations are currently under review by U.S. Secretary of State Marco Rubio but stressed that no cancellation has occurred.
On July 8, Minister Ngafuan, joined by Ambassador Alhassan Conteh and Deputy Minister Zuo, met with Mr. Mateo Goldman, Senior Vice President at the U.S. International Development Finance Corporation (DFC).
The DFC reaffirmed its interest in expanding private-sector investments in Liberia, with a focus on agriculture, energy, and financial services.
"We are committed to supporting inclusive and sustainable private-sector growth in Liberia," Mr. Goldman said. "We see real potential in the reforms being undertaken and are excited about deepening our engagement."
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Minister Ngafuan also held a special meeting with Mr. Dave Donaldson, Special Assistant to President Trump's Spiritual Advisor, Paula White, at the White House Faith Office on July 10.
The meeting focused on restoring support to Liberia's health and education sectors, which have been impacted by recent cuts to USAID-funded programs.
"We're working to mobilize U.S. institutions and faith-based partners to help Liberia sustain the progress it has made in health and education," Mr. Donaldson assured.
Minister Ngafuan welcomed the support, noting that both sectors are core priorities under the AAID and that partnerships with faith-based institutions are vital in reaching vulnerable communities.
Minister Ngafuan's multi-agency diplomatic mission reflects Liberia's proactive approach to international engagement. By securing endorsements from the IMF, engaging with U.S. development agencies, and reinforcing bilateral ties with Washington, the Boakai administration is advancing a bold and credible strategy to lift Liberia's economy and improve livelihoods.
"This mission has been about building bridges, unlocking opportunities, and reaffirming our commitment to responsible leadership," Minister Ngafuan concluded. "With our partners standing with us, Liberia's future is brighter."
