But Stresses Need To Build On Foundation To Advance Liberia’s Development
By Our Reporter
The World Bank Group Liberia Country Manager, Georgia Wallen, has called on the Liberian Government to build on recent gains in macroeconomic and fiscal stability by implementing reforms aimed at transforming the country’s fiscal system and creating additional resources for national development.
Wallen made the call during the launch of the Liberia Public Finance Review 2026: From Stabilization to Fiscal Transformation, held at the Monrovia City Hall.
She commended Liberia for strengthening fiscal discipline, narrowing its fiscal deficit and reducing public debt in recent years, describing the progress as an important foundation for advancing the country’s development ambitions.
According to Wallen, the gains come at a critical time as Liberia moves closer to the target date for Liberia Vision 2030 and works to implement the ARREST Agenda for Inclusive Development (AAID).
She said the priorities under the AAID including infrastructure development, human capital investment, economic transformation, governance and inclusive developmentare estimated to require approximately US$8.4 billion over five years.
Wallen stressed that creating sustainable fiscal space must therefore remain a critical national priority if Liberia is to finance its development agenda without placing undue pressure on public finances.
The World Bank Liberia Country Manager said the Public Finance Review identifies four major opportunities for the country: increasing domestic revenue mobilization, maximizing the fiscal benefits of Liberia’s natural resources, improving the efficiency and impact of public spending, and strengthening the management of fiscal risks.
Deputy Finance Min. acknowledges gap in public finance review
Also speaking at the launch, Deputy Minister at the Ministry of Finance and Development Planning, Antony Myers acknowledged the gaps identified in the World Bank’s Public Finance Review.
Myers assured the World Bank and other stakeholders that the government is pursuing measures to address the identified gaps, emphasizing that the reforms are being undertaken in the interest of Liberia’s economic growth and national development.