Liberia: 2025 Article IV Consultation and Second Review Under the Extended Credit Facility Arrangement and Request for a Waiver of Nonobservance of a Continuous Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Liberia

International Monetary Fund

No 2025/290, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Liberia’s 2025 Article IV Consultation and Second Review under the Extended Credit Facility (ECF) Arrangement and Request for a Waiver of Nonobservance of a Continuous Performance Criterion. Liberia’s ECF arrangement was approved to support the country’s effort to restore macroeconomic stability, reduce debt vulnerabilities, preserve financial stability, and strengthen governance. Program performance has been broadly satisfactory. All but one quantitative performance criteria (PCs) for end-December 2024 were met. The continuous PC on nonaccumulation of new external arrears was breached. Robust growth is expected to continue in 2025 and further accelerate over the medium term. An unanticipated global economic slowdown, along with intensified geopolitical fragmentation and higher commodity volatility, are potential external shock. Additional decline in donor support could add further challenges in achieving the authorities’ development goals. On the positive side, a continued stable political environment could support the implementation of policy reform measures needed for achieving higher economic growth and making external accounts less vulnerable to shocks.

Keywords: staff appraisal; NIR target floor; program ceiling; exceeded program floor; staff report; Debt sustainability; Debt service; Global; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 149
Date: 2025-11-07
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