Liberia-Presentation of African Economic Outlook

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Date: 30/06/2009
Location: Monrovia, Liberia
Organiser: AfDB, OECD
Liberia-Presentation of African Economic Outlook

AfDB Staff from the Development Research Department and the Sierra Leone Field Office launched the 2009 African Economic Outlook (AEO) and African Development Report (ADR) on Tuesday June 30th in Liberia. The event took place in Monrovia, under the auspices of Liberia’s Minister of Finance Hon. Augustine Ngafuan.

In his opening remarks, Hon. Ngafuan acknowledged the crucial role of the Bank in Liberia’s post-conflict reconstruction and noted the critical knowledge and analytical gap that these reports would fill in his country. In particular, the Minister commended the AEO and ADR as valuable sources of data and information for Liberia’s policy processes, and called for a reinforcement of the Bank’s efforts in providing analytical support to his fragile nation, especially in the areas of macroeconomic management and capacity to collect and analyze reliable data for policy making.

The event was also attended by the Assistant Minister of Planning & Economic Affairs, responsible for Macroeconomic Analysis & Policy, Mr. Stanley Kamara, who specifically called for the Bank’s assistance in the development of analytical capacity to track the country’s performance on the MDGs.

The event was chaired by Manager Abdul B. Kamara, who presented the overview of the African Economic Outlook, and introduced the ADR 2009. In his presentation, Mr. Kamara emphasized the need for the Liberian government to deepen fiscal reforms to consolidate macroeconomic stability, which along with basic infrastructure remains crucial for the effectiveness of the country’s reconstruction efforts. He reiterated that the Bank is supporting the Liberian government to reconstruct the economy through various channels, including debt relief, budget support and various operational programs. He also noted that the sound fiscal policies and stable political environments in Liberia, together with enhanced donor supports for post-conflict countries, provide a promising ground for Liberia to revitalize and sustained economic growth.