Liberia establishes task force to tackle non-performing loans

The Liberian government has announced the establishment of a National Non-Performing Loans Task Force to address persistent issues within the country’s financial sector. Announced by Vice President Jeremiah Kpan Koung in Monrovia, the initiative follows a directive from President Joseph Nyuma Boakai to move from policy discussion toward a coordinated national response.

The Task Force is designed to bring together various stakeholders, including the Central Bank of Liberia, the Ministry of Finance and Development Planning, the Ministry of Justice, financial institutions, and development partners. Its primary objective is to address existing bad loans while strengthening systems to prevent the accumulation of new non-performing loans.

Vice President Koung emphasized that the administration expects concrete results through a formal implementation action plan. This plan will include defined responsibilities, timelines, and mechanisms for monitoring and reporting progress, integrating the resolution of bad loans into a broader economic reform agenda.