By Stephen N. Sonpon
MONROVIA, Sept 9 (LINA) – The World Bank Group Liberia Country Manager, Georgia Wallen, has commended the Liberian Government for recent improvements in macroeconomic and fiscal stability, while urging authorities to accelerate reforms that can create greater fiscal space and unlock additional resources for national development.
Wallen made the statement at the launch of the Liberia Public Finance Review 2026: “From Stabilization to Fiscal Transformation,” held Monday at the Monrovia City Hall.
The World Bank Country Manager said Liberia’s progress in strengthening fiscal discipline, narrowing the fiscal deficit and reducing public debt provides an important foundation for the country to pursue its broader development ambitions.
She, however, cautioned that maintaining stability alone would not be sufficient to meet Liberia’s growing development needs, stressing the importance of transforming the country’s public finance system to generate sustainable resources for investment.
According to Wallen, the reforms are particularly important as Liberia approaches the target date for Liberia Vision 2030 and continues efforts to implement the government’s ARREST Agenda for Inclusive Development (AAID).
She noted that key priorities under the AAID—including infrastructure development, human capital investment, economic transformation, governance and inclusive development—are estimated to require approximately US$8.4 billion over five years.
Wallen said the scale of the financing requirement makes the creation of sustainable fiscal space a critical national priority.
She emphasized that Liberia must strengthen its ability to finance development programs without placing excessive pressure on public finances or increasing the country’s vulnerability to fiscal shocks.
The World Bank official identified four major opportunities outlined in the Public Finance Review that could help Liberia advance toward fiscal transformation.
These include 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.
Wallen said effectively pursuing these opportunities would enable the government to translate recent macroeconomic stability into tangible development outcomes for Liberians.
She encouraged the government and other stakeholders to use the findings of the Public Finance Review as a framework for strengthening public financial management and ensuring that available resources are used more efficiently and strategically.
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 development partners that the government is taking steps to address the challenges highlighted in the report.
He said the government remains committed to pursuing reforms that will strengthen Liberia’s fiscal position, improve public spending and support sustainable economic growth.
Myers emphasized that the ongoing reforms are being undertaken in the interest of Liberia’s long-term economic development and the improvement of national living conditions.
The launch of the 2026 Public Finance Review comes at a time when Liberia is seeking to consolidate recent gains in fiscal stability while mobilizing the resources required to implement major development priorities under the ARREST Agenda.
The World Bank’s call therefore places renewed emphasis on the need for Liberia to move beyond fiscal stabilization toward a more transformative public finance system capable of supporting sustained economic growth, improved public services and inclusive national development.