MONROVIA, LIBERIA—Vice President Jeremiah Koung has announced the establishment of a Non-Performing Loan Task Force to coordinate national efforts to address bad loans and strengthen Liberia’s financial sector. ‎ ‎

Speaking Friday, September 11, 2026, in Monrovia at the close of the three-day National Non-Performing Loans Resolution Conference, Vice President Koung said:” The task force will bring together key government institutions and stakeholders to develop solutions to the country’s growing non-performing loan problem”. ‎

‎He disclosed that the body will include the Central Bank of Liberia, Ministry of Finance and Development Planning, and Ministry of Justice, among other institutions. ‎

‎The Vice President said:” Financial institutions and other relevant stakeholders will also form part of the task force to ensure a coordinated approach to resolving bad loans”. ‎

‎According to Vice President Koung, the task force will develop a national framework for resolving non-performing loans while promoting responsible lending practices across the financial sector.

‎Vice President Koung also disclosed that President Joseph Boakai has directed relevant institutions to finalize the task force’s composition, terms of reference, and implementation plan. ‎ ‎

The announcement comes as government and financial-sector stakeholders continue discussions on the impact of non-performing loans on Liberia’s economy and banking sector. ‎

‎At the same conference, Central Bank of Liberia Executive Governor Henry Saamoi said delays in settling verified government obligations to contractors and suppliers are contributing to borrower distress and the deterioration of loans. ‎ ‎Reading the conference communique Friday in Monrovia, Governor Saamoi said participants have committed to supporting a mechanism that will facilitate the timely verification and reconciliation of government obligations tied to contracts. ‎

‎He said: “The proposed mechanism is intended to address payment delays that can affect businesses and their ability to meet loan obligations to financial institutions”. ‎

‎The communique also calls for the development of a National Non-Performing Loans Resolution and Reduction Framework to address existing bad loans and prevent the accumulation of new ones.

‎Meanwhile, Governor Saamoi said the Central Bank of Liberia will strengthen credit infrastructure and regulatory measures to improve lending and support private-sector growth.