Government officials and representatives from the International Monetary Fund (IMF) met in Monrovia on Thursday for a one-day Climate Policy Diagnostic Consultation. The event, held at the Ministry of Finance and Development Planning (MFDP), aimed to develop climate-related fiscal policies to address balance of payment risks, strengthen fiscal resilience, and support environmental goals.
The meeting was organized jointly by the IMF and MFDP. Discussions focused on ways to create more fiscal space and promote long-term sustainability while ensuring cost recovery for investments related to climate change. Participants explored strategies for mobilizing revenue and climate finance, increasing spending efficiency, and managing fiscal risks linked to climate change and natural disasters.
Governance frameworks required for implementing these policies were also reviewed. Stakeholders highlighted the need to correct market failures, improve resource use efficiency, and encourage private sector involvement through incentives.
The consultation included a discussion about equity concerns. There was a focus on reducing negative impacts of climate policies on vulnerable and low-income households by building their capacity to withstand climate-related shocks.
According to organizers, this meeting is part of ongoing efforts to align Liberia’s economic development with global best practices in climate policy while pursuing inclusive growth objectives.
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