Monrovia – Liberia recorded robust positive factors in fiscal self-discipline, debt sustainability, exterior reserves, and banking sector stability in 2025, positioning the nation among the many top-performing ECOWAS Member States on key macroeconomic convergence indicators.
Talking on the Joint Opening Ceremony of the 67th Odd Assembly of the Committee of Governors of Central Banks of ECOWAS Member States, Govt Governor of the Central Financial institution of Liberia (CBL), Henry F. Saamoi, highlighted what he described as important progress in strengthening Liberia’s macroeconomic fundamentals.
The occasion, held on the Farmington Resort in Margibi County, introduced collectively central financial institution governors and senior policymakers from throughout the area to evaluate macroeconomic efficiency and advance regional financial integration below the Financial Neighborhood of West African States (ECOWAS).
Fiscal Self-discipline and Debt Sustainability
Governor Saamoi disclosed that complete authorities income and grants rose by 18.6 p.c within the first half of 2025, pushed by improved income mobilization and disciplined expenditure administration.
“Complete authorities income and grants rose by 18.6 p.c within the first half of 2025, enabling Liberia to attain a balanced price range — nicely inside the three p.c ECOWAS threshold,” he stated.
Public debt declined to an estimated 54.2 p.c of GDP, strengthening Liberia’s compliance with ECOWAS convergence benchmarks.
“These ratios — deficit-to-GDP and debt-to-GDP — place Liberia among the many best-performing nations in price range deficit management and debt sustainability below the convergence standards,” Saamoi emphasised.
Robust Exterior Sector Efficiency
Liberia’s exterior sector additionally recorded notable positive factors in 2025.
Exports elevated by greater than 30 p.c, whereas gross exterior reserves rose by US$101 million to US$575.5 million. Web worldwide reserves exceeded the IMF-agreed goal by practically US$16 million at end-December 2025, rising from US$234 million in 2024 to over US$282 million.
The Liberian greenback remained broadly steady, depreciating by solely 0.9 p.c in opposition to the US greenback — nicely inside the ECOWAS secondary convergence criterion of plus or minus 10 p.c — and appreciating by 3.2 p.c on an end-period foundation in comparison with December 2024.
Regional Outlook Improves
Governor Saamoi reported that ECOWAS economies grew by 4.5 p.c in 2025, with development projected to achieve 5.0 p.c in 2026, supported by coordinated financial insurance policies and sustained reforms.
Regional inflation fell sharply from 23.3 p.c in 2024 to 16.8 p.c in 2025, with additional moderation anticipated.
“These positive factors are usually not mere statistics,” Saamoi famous, citing improved resilience regardless of world uncertainties, together with weakening commodity costs, tightening monetary situations, and geopolitical tensions.
He introduced that 4 ECOWAS member states are anticipated to fulfill all 4 major convergence standards in 2025 — double the quantity recorded in 2024 — whereas a number of others made progress towards assembly inflation, fiscal deficit, and debt sustainability targets.
Challenges Stay
Regardless of the enhancements, Saamoi acknowledged that many member states proceed to face inflationary pressures, fiscal deficits above convergence thresholds, and heavy debt servicing burdens.
He pressured the necessity to diversify economies past unprocessed commodities, strengthen home income methods, and preserve expenditure self-discipline to scale back vulnerability to exterior shocks.
Convergence Rating Improves
In the meantime, Abudul Salam Abideyemi, Director Basic of the West Africa Financial Institute (WAMI), reported that the composite convergence rating for the West African Financial Zone (WAMZ) rose to 58.3 p.c from 50 p.c at end-June 2024.
“These outcomes counsel gradual adjustment and coverage coordination throughout the zone, though efficiency gaps stay, notably in areas affected by persistent inflation, fiscal constraints, and structural vulnerabilities,” he stated.
The convergence rating measures how nicely member states meet agreed macroeconomic stability standards — together with inflation management, fiscal self-discipline, debt sustainability, and exterior stability — required for deeper regional integration and the eventual adoption of a single forex.
With Liberia assembly 4 of the six convergence standards in 2025, policymakers say the nation is strengthening its place inside the regional push towards financial union, at the same time as broader reforms stay essential to maintain momentum.
