Monrovia, Liberia - The Government of Liberia, in partnership with the International Monetary Fund (IMF), on Thursday convened a one-day Climate Policy Diagnostic Consultation meeting at the Ministry of Finance and Development Planning (MFDP).
The high-level gathering focused on developing climate-related fiscal policies aimed at reducing balance of payment risks, boosting fiscal resilience, and generating positive environmental outcomes.
Organized by the IMF and the MFDP, the consultation sought to explore ways to create fiscal space and support long-term sustainability while ensuring cost recovery for climate-related investments. Key discussions centred on mobilizing revenue and climate finance, enhancing spending efficiency, and climate finance, enhancing spending efficiency, and reducing the fiscal risks associated with climate change and natural disasters.
Stakeholders also examined governance frameworks necessary for implementing these climate-focused policies. Emphasis was placed on correcting market failures, improving resource efficiency, and encouraging private sector participation through appropriate incentives.
Additionally, the meeting addressed equity concerns, with a strong focus on minimizing the adverse impact of climate policies on vulnerable and low-income households by enhancing their resilience to climate-related shocks.
The consultation forms part of broader efforts to align Liberia’s economic and climate strategies with global best practices while ensuring inclusive and sustainable growth.