Liberia: Third Review Under the Extended Credit Facility Arrangement and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Liberia

The current 40-month program supported by the Extended Credit Facility is helping Liberia regain fiscal credibility, restore debt sustainability, and enhance financial sector stability. Targeted reforms are bolstering the authorities’ efforts to mobilize additional domestic and external resources, which are essential for addressing the country’s large infrastructure gap. Liberia remains one of the most vulnerable countries to climate-related and pandemic risks. In recent years, these climate-related shocks have led to significant loss of lives and property, people displacements, destruction of agriculture crops, and worsening food security. Liberia has also faced heightened vulnerabilities to pandemics, largely due to a fragile, underfunded health sector with limited coverage. These challenges, coupled with a decline in external donors’ support, continue to constrain Liberia’s development prospects.