MONROVIA, LIBERIA-The Liberian Government and the World Bank have underscored the importance of close coordination to ensure timely and targeted interventions in response to evolving global risks.

It followed a meeting between Liberia’s Finance Minister, Augustine Ngafuan, and World Bank Regional Vice President for Western and Central Africa, Ousmane Diagana, on the sidelines of the IMF-World Bank Spring Meetings.

Discussions centered on the portfolio performance of key sectors of the ARREST Agenda, assessing the economic implications of the ongoing Middle East crisis, and exploring mitigation measures.

Minister Ngafuan briefed the World Bank team on the direct and emerging impacts of the crisis on Liberia’s economy.

He highlighted rising global oil prices as a key transmission channel, noting that the Liberian Government has already adjusted domestic petroleum and fuel prices twice in response to external shocks.

Minister Ngafuan, however, expressed fear that the crisis could impact other sectors of the economy.

Meanwhile, Ousmane Diagana reaffirmed the Bank’s strong and continued support for Liberia.

Diagana noted that the Bank is actively exploring additional financing and policy support options for Liberia and other countries significantly affected by the ongoing Middle East crisis.

These efforts, he said, will focus on safeguarding microeconomic stability, strengthening resilience, and protecting the most vulnerable segments of the population.