Country Partnership Framework for the Republic of Liberia for the Period FY19 - FY24
The Liberian economy is undergoing a process of structural transformation, as the dominanceof agriculture and mining gradually gives way to a rising services sector. Much of the Liberian economy is structured around foreign direct investment (FDI)...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/374031541438293964/Liberia-Country-Partnership-Framework-for-the-Period-FY19-FY24 http://hdl.handle.net/10986/30853 |
| Summary: | The Liberian economy is undergoing a
process of structural transformation, as the dominanceof
agriculture and mining gradually gives way to a rising
services sector. Much of the Liberian economy is structured
around foreign direct investment (FDI) and the development
of private agricultural, mining, and forestry concessions.
The Liberian economy showed signs of recovery in 2017-2018,
amid significant fiscal and external imbalances. The
medium-term outlook remains positive, assuming the new
government maintains prudent macroeconomic policies, pursues
a judicious borrowing policy, and implements planned
structural reforms. The favorable medium-term growth outlook
also assumes that sound macroeconomic management and
structural reforms will strengthen investor confidence. The
Government’s medium-term development strategy (July
2018-June 2023), the Pro-poor Agenda for Prosperity and
Development (PAPD), is designed around the priorities set
forth in President Weah’s inaugural speech and State of the
Nation address: (i) combatting corruption; (ii) improving
efficiency and accountability in the public sector; (iii)
promoting honesty and transparency in the private sector;
(iv) narrowing infrastructure gaps, especially in the
southeast; and (v) creating jobs, especially for young
workers. The Country Partnership Framework emphasizes the
importance of shifting the focus of the WBG program from
being infrastructure intensive under the previous CPS toward
a more balanced approach with greater attention to
education, agriculture, economic empowerment of women and
youth, and maternal and child health. WBG will support
smallholder commercialization and private-sector investment
in agribusiness by fostering productive business linkages
among smallholder farmers, selected agribusiness firms, and
business-development services—with a special focus on
constraints faced by women and youth. |
|---|