Liberia

Liberia’s economy has been slowly recovering from the devastating effects of over a decade of civil wars that ended in 2003. Despite the many challenges, the country boasts abundant natural resources such as mining, agriculture, fishing, and forestry. Liberia also benefits from large expatriate remittances and its membership in the Economic Community of West African States (ECOWAS), facilitating regional trade and cooperation.

However, Liberia’s recent and fragile democracy has yet to achieve pre-war levels of development. Mismanagement in government spending, high levels of corruption, an inefficient regulatory framework, and an underdeveloped banking system continue to hinder growth and job creation. Furthermore, Liberia’s largely commodities-based economy relies heavily on imports for basic needs like clothing, fuel, and rice, a key food staple. Unreliable electricity, poor roads, and a lack of reliable internet access also pose significant challenges to Liberia’s transition to a modern, market-based economy.