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By Jamesetta D Williams
Monrovia-Nov. 14, 2025: Finance and Development Planning Minister, Augustine K. Ngafuan, has spoken positively of Liberia’s breakthrough as it relates to passing the Millennium Challenge Corporation (MCC) Fiscal Year 2026 Scorecard, which marks a major step toward securing a Second Compact from the United States Government.
Speaking on the ELBC Super Morning Show Thursday, Minister Ngafuan confirmed that the MCC team had sent a confidential copy of the scorecard to the Liberian government ahead of its official release on Wednesday, November 12, 2025.
“Passing is not the end; it is the beginning. Even where we passed, we must continue to improve. Where we did not do well, we will take corrective action,” he stated, in an effort to alley apprehensions and calm down high hopes that follow the announcement.
Minister Ngarfuan explained that the scorecard shows that Liberia met and passed the minimum benchmark, including the two critical “hard indicators”—Control of Corruption and Democratic Rights—which are mandatory for all qualifying nations.
“This is significant because if you fail any of these two, you automatically fail, no matter how many other indicators you pass,” he explained.
According to the Minister, the MCC now uses 22 performance indicators, up from 20 in previous years, and countries must pass at least 11 indicators to remain eligible. Liberia’s performance, he said, demonstrates the Boakai administration’s strong commitment to governance reforms, transparency, and accountability.
“This is important because to qualify for a Second Compact, a country must consistently pass the MCC Scorecard,” Minister Ngafuan noted, adding that Liberia’s recent progress keeps it “firmly on track.”
Minister Ngafuan recounted that Liberia’s path toward the Second Compact has been marked by both progress and challenges. He referenced past disruptions during the U.S. government transition that affected several MCC programs globally but said Liberia maintained eligibility despite those difficulties.
He revealed that since December 2024, Liberia has been re-engaging the MCC, recruiting technical staff, and holding multiple bilateral meetings both in Monrovia and Washington to accelerate preparations.
“President Boakai’s administration has worked closely with the MCC team to ensure Liberia’s readiness. We expect the MCC Board to meet in December 2025 to reaffirm Liberia’s eligibility and announce potential funding,” the Minister said confidently.
Minister Ngafuan disclosed that the Cabinet will hold discussions on each of the scorecard’s indicators to ensure continued progress.
He identified Energy and Infrastructure—particularly road development—as Liberia’s two major constraints to economic growth, as highlighted by MCC assessments. These sectors, he said, will continue to receive top priority in government’s development planning.
“Affordable and reliable energy is crucial for businesses to grow and create jobs. And as we always say, the development of a nation begins with the development of roads,” he emphasized.
Turning to the economy, Minister Ngafuan said Liberia’s 2025/2026 National Budget has been projected at US$1.211 billion, representing a 0.5 percent increase from the previous fiscal year.
He attributed the growth to improved domestic revenue performance, citing the Liberia Revenue Authority (LRA)’s record-breaking US$700 million collection in 2024—the highest in Liberia’s history.
“We are digitizing our tax system, closing loopholes, and strengthening compliance through electronic fiscal devices. Trade and economic activities are expanding; if you visit the Freeport of Monrovia at night, you’ll see trucks lined up because the economy is growing,” Ngafuan explained.
He projected a 5.4 percent GDP growth rate, noting that government revenue growth is expected to continue, even if the one-time US$200 million signature bonus from a pending oil transaction is excluded from next year’s revenue.
The Minister underscored that the national budget represents a projection of revenues, not actual collections. He said the government is committed to maintaining budget credibility by aligning spending with realistic income expectations.
“The budget is not just about figures; it reflects our collective belief that these are revenues we can raise and use effectively. We must ensure the credibility of every number we put forward,” Ngafuan remarked.
He also predicted that, based on historical trends, the Legislature may increase the budget slightly upon review but assured the public that the Ministry would maintain fiscal discipline and transparency.
Minister Ngafuan expressed optimism about Liberia’s economic future, citing the country’s strong MCC performance, revenue growth, and ongoing reforms as evidence of stability and progress under President Boakai’s leadership.
“Our focus remains clear—to build a stronger, more resilient economy for all Liberians,” he said. “The government will continue to prioritize energy, infrastructure, and good governance so that every Liberian can feel the impact of national growth.”