IMF Backs Boakai Government, Says Liberia’s Economy Grew 5.1%

Monrovia, Liberia: The International Monetary Fund (IMF) has confirmed that Liberia’s economy grew by 5.1 percent in 2025 following the successful completion of its third review under the Extended Credit Facility (ECF) program.

An IMF team led by Daehaeng Kim visited Monrovia from January 7 to 20, 2026, and reached an agreement with the Liberian government on the country’s ongoing economic reform program.

The ECF arrangement, approved in September 2024, gives Liberia access to about US$210 million over a 40-month period to support economic recovery and reforms.

According to the IMF, Liberia’s macroeconomic situation continues to improve, driven by strong mining activities and moderate growth in agriculture and services. The Fund also reported a sharp drop in inflation and a stable exchange rate.

Mr. Kim said real GDP growth increased from 4.0 percent in 2024 to 5.1 percent in 2025, while inflation fell to an average of 4.4 percent in the last quarter of 2025, down from 12.5 percent earlier in the year.

The IMF added that government fiscal performance has strengthened, with Liberia recording a primary budget surplus of 1.4 percent of GDP in 2025, exceeding the program target.

However, the Fund stressed that continued reforms are necessary to maintain stability, reduce debt risks, and strengthen the banking sector. It called for disciplined spending, improved revenue collection, stronger public financial management, and better monetary policies.

During the visit, the IMF team held talks with President Joseph Nyuma Boakai, lawmakers, Finance Minister Augustine Ngafuan, Central Bank Governor Henry Saamoi, senior officials, and development partners.