The World Bank has called on Liberia to implement institutional and political reforms to unlock its economic potential and ensure long-term prosperity.
In its latest report, the Bank warned that Liberia remains trapped in a resource-based economic model, leading to cycles of stagnation and slow recovery. Without reforms, the country risks failing to reach middle-income status before 2050.
The report highlights the need for macroeconomic stability by strengthening economic resilience and diversifying income sources. Economic diversification is also essential to reduce dependence on the mining sector and expand other industries. Promoting private sector growth is critical, as businesses are key drivers of employment and development.
Modernizing the public sector will improve efficiency in education and healthcare services, while strategic infrastructure investments in roads, electricity, and digital networks will support long-term economic growth.
The World Bank emphasized that without these changes, Liberia’s growth will remain too modest to significantly reduce poverty and improve living standards.
