Monrovia, Liberia – The World Bank today officially launched the Sixth Edition of the Liberia Economic Update (LEU), placing the country’s employment crisis squarely at the center of its new development roadmap.
Speaking at the launch in Monrovia, World Bank Country Manager Georgia Wallen confirmed that the report, titled “From Stabilization to Inclusion: Pathways for Resilient Growth and Productive Jobs,” highlights the crucial transition needed from simply maintaining economic stability to actively fostering job-rich growth.
Wallen acknowledged the “good and positive news” of a marked improvement in Liberia’s macroeconomic situation, citing better fiscal and external sector outcomes. However, she emphasized that the country’s private sector and labor markets still present “valuable and challenging insights” regarding job quality and employment patterns. The report ultimately aims to “translate knowledge into action” to address the nation’s most pressing challenge.
4 Pillars for ‘More and Better Jobs’
The LEU proposes a four-pronged strategy to build on the country’s reform momentum and generate productive, resilient jobs:
Stimulating Labor Demand: This requires targeted efforts to boost sectors with high employment potential, such as agro-processing and light manufacturing.
Enabling Firm Growth: Key reforms are needed to support existing businesses, particularly through financial and regulatory reforms, and by providing technological support. The report notes that Liberia’s private sector is currently dominated by informal, micro-sized firms with limited capacity to create quality jobs.
Modernizing the Business Environment: This involves systemic changes to strengthen the operating climate and improve public–private coordination to attract and retain investment.
Expanding Labor Participation: The focus here is on inclusive interventions, including skills development, youth-focused programs, and gender-focused initiatives.
Wallen described these strategies as “game-changing” measures that can help Liberia foster productive growth and improve its resilience to future shocks.
A Long-Term Partnership Commitment
Looking ahead, the World Bank Country Manager pledged that the institution’s five-year partnership with Liberia will “focus intensively on building foundations for more and better jobs.” This effort will be formally anchored in the new Country Partnership Framework (CPF) set to launch next month.
“A multi-stakeholder approach will be key for achieving these objectives,” Wallen concluded, calling for collective action to utilize the LEU’s findings to “tackle Liberia’s jobs challenge and unlock opportunities for future progress.”
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