Liberia’s Finance and Development Planning Minister, Hon. Augustine Kpehe Ngafuan, emphasized the need for execution, collaboration, and financial sector reform during the Central Bank of Liberia’s (CBL) Monetary Policy Communiqué for the third quarter of 2025. The event was held at CBL headquarters in Monrovia and led by Executive Governor Henry F. Saamoa.
The Monetary Policy Committee (MPC), chaired by Governor Saamoa, announced that it would maintain the monetary policy rate at 17.25% through the next assessment, citing improved inflation prospects and exchange rate stability. The existing policy corridor and reserve requirement ratios for both Liberian and US dollar deposits will also remain unchanged.
Minister Ngafuan commended the Central Bank’s efforts and called for increased cooperation between fiscal and monetary authorities. “We must execute. We must deliver. And we must deliver on time,” he said, urging government institutions and financial stakeholders to address economic challenges with urgency.
Ngafuan noted improvements in consumer prices due to easing global pressures but highlighted risks from declining international prices for Liberia’s key exports—rubber, cocoa beans, and raw palm oil. “These are concerns we cannot ignore,” he added.
He expressed support for developments like the Pan-African Payment and Settlement System (PAPSS), which allows cross-border trade without US dollars. He described it as “quietly revolutionary” with potential benefits such as reducing exchange rate pressure.
“This is about the market women, the traders, the students. If someone in Liberia can pay for goods in Ghana without US dollars, that’s not just convenience—it’s transformation,” Hon. Ngafuan said.
Ngafuan also mentioned plans to meet with the Bankers Association to discuss how commercial banks can better support national development goals. “We must make sure the banking system is not just watching us struggle.”
The MPC communiqué noted positive economic indicators such as a decline in consumer prices during the quarter and stable net inflows supporting the Liberian dollar but reiterated its commitment to vigilance amid uncertain global conditions.
“Maintaining macroeconomic stability is non-negotiable,” Governor Saamoa stated, assuring readiness to act decisively against any economic shock.
The briefing concluded with a call for sound policy, practical action, and institutional cooperation to achieve inclusive growth and improve lives in Liberia.