MONROVIA, LIBERIA-The International Monetary Fund (IMF) has approved an immediate disbursement of 26.5 million USD to Liberia, following a positive review of the country’s economic performance and reform agenda.

The decision taken by the IMF’s Executive Board on Wednesday, October 1, 2025, comes after the successful completion of Liberia’s second review under a forty-month support program.

The funds are intended to strengthen the Central Bank of Liberia’s reserves and help maintain macro-economic stability.

The latest disbursement, according to a release from the Finance Ministry, brings the total funds released under the IMF’s Extended Credit Facility (ECF) arrangement to 79.4 million.

The program, approved in September 2024, provides Liberia with access to approximately 223 million in total financial support, disbursed in stages as the country meets agreed-upon reform targets.

In a statement following the decision, the IMF Acting Chair, Bo Li, praised the Liberian authorities for their progress.

Li said, “Liberian authorities have made notable progress in implementing sound macro-economic policies and key structural reforms”.

He highlighted successful measures to reduce the fiscal deficit, manage debt, and strengthen foreign reserves.

The IMF specifically commended the Liberian Government’s “swift policy responses” to a sudden drop in foreign grant support, noting that Liberia safeguarded critical social programs by rationalizing spending and mobilizing domestic revenue.

In response, Liberia’s Finance and Development Planning Minister, Augustine Ngafuan, welcomed the move as a “vote of confidence” in the government’s economic management during a period of declining foreign aid.

Minister Ngafuan said, “The successful review puts Liberia on track to potentially benefit from additional climate-focused funding under the IMF’s Resilience Sustainability Facility in 2026”.

He also praised the coordination between the Finance Ministry and the Central Bank of Liberia under the leadership of President Joseph Boakai, reiterating the government’s commitment to its economic development agenda, the ARREST Agenda for Inclusive Development (AAID).

The ECF is the IMF’s main financial support tool for low-income countries.

It provides medium-term financial assistance to countries facing protracted balance of payment problems and is designed to support programs that move economies toward sustainable growth.