MONROVIA, LIBERIA-The Government of Liberia, through the Ministry of Finance and Development Planning, has assured the Banking Sector of its commitment to settling obligations to commercial banks, as part of efforts to restore confidence.
The assurance was given by the Minister of Finance and Development Planning, Augustine Ngafuan, during the 6th Anniversary celebration of the Liberian Bank for Development and Investment (LBDI) in Monrovia.
According to Minister Ngafuan, the confidence between the government and commercial banks is improving, after years of weakened trust.
He disclosed that debt servicing has been prioritized in the upcoming National Budget, with nearly $90 million allocated to pay commercial banks.
The finance minister said,” Strengthening the Banking Sector remains critical to Private Sector growth and sustained economic recovery”.
Meanwhile, Minister Ngafuan noted that the ongoing fiscal reforms are aimed at supporting economic stability and long-term growth.