IMF raises concerns over Liberia's bank accounts and mining taxes

The International Monetary Fund (IMF) has raised concerns regarding Liberia’s fiscal management and revenue mobilization. A January 2025 review revealed that 1,253 government accounts remained open as of December 2024, distributed across the Central Bank of Liberia and various commercial banks. This includes project-related donor accounts, despite previous government intentions to consolidate holdings under a Treasury Single Account (TSA).

Additionally, the IMF is urging the Liberian government to reform its mining fiscal regime. The Fund recommends reducing generous tax exemptions granted to mining companies, increasing mineral royalties—specifically for gold and iron ore—and improving the taxation of mining income. The IMF suggests these measures are necessary to secure a fairer share of mineral wealth and generate the domestic revenue required to fund infrastructure projects amidst declining external financial support.