An International Monetary Fund (IMF) staff team, led by Daehaeng Kim, visited Monrovia from November 6 to 19, 2024. The purpose of the visit was to conduct the first review of the Extended Credit Facility (ECF) arrangement that was approved on September 25, 2024.
At the end of their mission, Daehaeng Kim made a statement: "The IMF team held collaborative and constructive discussions with the authorities regarding the progress made since the approval of the ECF arrangement and the policies for the future. The team is encouraged by the robust economic activity, ongoing stability of prices and exchange rates, and the strong fiscal outturn. The team also welcomes the authorities’ steadfast commitment to the economic reforms supported by the ECF arrangement."
He further added that "IMF staff and the authorities have reached understandings on most macroeconomic policies under the program. A few issues remain to be discussed further in the coming days. They look forward to continuing constructive discussion on the remaining issues, with a view to finalizing the staff-level agreement in coming weeks."
Kim expressed gratitude towards local counterparts stating, "The IMF team would like to thank the authorities and all other counterparts for their hospitality and constructive discussions."
During their visit, IMF representatives met with President Joseph N. Boakai, Senate leadership, Minister of Finance and Development Planning Augustine K. Ngafuan, Acting Executive Governor of the Central Bank of Liberia Henry F. Saamoi, senior government officials, and development partners.