Claim: Liberia’s Finance Minister Augustine Ngafuan has alleged that Liberia’s 2024 Public Debt-to-GDP ratio was 56.1%.
Verdict: False! Data from the Central Bank of Liberia show that Liberia’s 2024 public debt-to-GDP ratio was 54.9%.
Full Text
Liberia’s Finance and Development Planning Minister, Augustine Kpehe Ngafuan, claimed that Liberia’s 2024 public debt-to-GDP ratio was 56.1%.
“On the fiscal front, public debt remains at a sustainable level. The Debt-to-GDP ratio declined from 56.1% in 2024 to 54% in 2025 and is projected to fall further to 49.4% in 2026.”
Minister Ngafuan made the claim Tuesday, April 11, 2026, at the National Steering Committee Meeting.
His remark was carried live on the official Facebook page of the Ministry of Finance. The claim was made exactly five minutes into his remark.
The live video generated 123 likes, 10 comments, and 34 shares.
Given the calibre of the person making the claim, DUBAWA decided to conduct a fact-check to promote truth-telling in public discourse.
Verification
To verify the claim, our researcher reviewed the Central Bank of Liberia Financial and Economic Bulletin, covering the period October to December 2024.
Data on page 30 show that Liberia’s 2024 Public Debt-to-GDP ratio was 54.9%.
Also, data from the CBL monthly economic review for December 2024, specifically on page 11, show that Liberia’s Public Debt was 54.8% of GDP.
Conclusion
Based on available data from the Central Bank of Liberia, Minister Ngafuan’s claim is false.