Finding Economic Solution: President George Manneh Weah commits to implementation of National Dialogue Recommendations

A three-day National Economic Dialogue was held from 4 – 6 September by the Government, Civil Society, Political Parties, Development Partners and international experts to find   solutions to the current economic downturn in Liberia  under the theme “National Economic Revival and Growth: Critical issues, challenges and way forward”.

The United Nations Development Programme (UNDP) with support from other strategic actors and development partners- European Union, USAID, ECOWAS  in respond to an agreement between GoL and the International Monetary Fund (IMF), to formulate a “new program” that would seek to restore economic growth and prosperity in Liberia supported the implementation of the NED.

The NED was a platform for national stakeholders to distill required policy actions to implement specified strategies in the National Pro-Poor Agenda for Prosperity and Development; propose new innovative policy directions, strategies and programs; and build national consensus and momentum for implementation of the stipulated policies, strategies and programs.

UNDP Liberia Resident Representative Pa Lamin Beyai said the Dialogue was a collective effort to revive the Liberian economy and achieve sustainable development by according Liberians of all persuasions the opportunity to discuss the path to economic recovery.

“In that effort, first, we should not underestimate the challenges the Liberian economy faces in terms of structural deficits and imbalances —including inflation, unbalanced budget, and slow growth” stressed Beyai.

He urged Liberians not be deterred by the magnitude of the challenges, but use the Dialogue as a national platform to devise feasible strategies and proffer workable solutions that would overcome Liberia’s economic difficulties, and collectively agree on how those strategies will be implemented.

The forum brought together over 350 stakeholders from the private sector, civil society, development partners and the Government.

Thematic areas covered included Public Finance Mobilization and Management; Investment Promotion and Private Sector Growth; Youth Unemployment and Skills Development and Peace Building and Reconciliation.

Some of the recommendations that came out of the forum include:

• Review of recommendations of the TRC including the establishment of economic and war crimes court
• Printing of new currency
• Broad-based review of the national custom code
• Recapitalization of the Central Bank of Liberia
• Review of domestic and external debts
• Practical agriculture programs, peace and national reconciliation.

The recommendations also called for derived consensus on the findings, conclusions and suggestions shall be expected to guide the formulation and implementation of economic recovery and sustainability policies and programs of Government, private sector actors, civil organizations, and development partners.

At the end  of the event, H.E. President George Weah, committed the government to implementing recommendations from the dialogue. He said recommendations would be taken under serious advisement, and, where and when necessary, would be backed with the political will required for successful implementation.

“Your efforts and contributions to our National Economic Dialogue will not go in vain. I will ensure that the People of Liberia reap positive benefits from all that you have done here over the past three days,” The Liberian Leader stressed.

President Weah said, part of urgent efforts to be employed toward implementation of the recommendations, would be to setup four different sub-cabinet committees that would be tasked with the responsibility to review the recommendations for immediate actions.