Liberia has made significant progress in securing eligibility for a second Millennium Challenge Corporation (MCC) Compact, but corruption remains a major obstacle, warned Senator Amara Konneh of Gbarpolu County. He cautioned that if corruption is not adequately addressed, it could jeopardize the Compact and weaken its impact.
The International Monetary Fund (IMF) recently approved $26.5 million to support Liberia’s balance of payments after completing the 2025 Article IV Consultation and the third review under the Extended Credit Facility (ECF) Arrangement. While welcoming this milestone, Senator Konneh expressed concern over the country’s economic health, noting that the IMF downgraded Liberia’s 2025 growth projection from 5.6 % to 4.6 %. He highlighted structural weaknesses and low consumption as signs of limited buying power among citizens, indicating a weak economy.
The IMF also flagged “widespread corruption” as a persistent roadblock to development, undermining growth, eroding investor confidence, and threatening Liberia’s ability to achieve sustained, inclusive development. As a former finance minister, Senator Konneh understands the challenges posed by external factors, corruption, and limited professional capacity. Nonetheless, he remains optimistic, noting that Liberia is better off than in 2006, when it inherited a collapsed and isolated economy after a prolonged civil war.
He acknowledged the gains made by the Boakai administration in stabilizing the exchange rate and inflation, but stressed the need for transformative reforms to grow the economy and accelerate development. He warned that the government’s flagship ARREST Agenda for Inclusive Development (AAID) is overly ambitious and requires strong institutions, ample resources, and effective leadership.
Senator Konneh outlined his vision for fiscal transformation, calling for a complete overhaul of the national budget to optimize growth through better natural‑resource concessions, smarter public spending, job creation, and equitable redistribution. He emphasized the importance of initiating a national conversation on natural‑resource management and rent allocation, and cautioned against the politicization of governance as the 2029 elections approach.
The senator expressed readiness to work collaboratively across branches of government and with international partners to address these challenges and unlock private‑sector growth. As Liberia’s leaders look ahead, they must prioritize bold, principled choices that improve lives rather than decisions driven by political interests.
Comments are closed for this story.