Context

The seven year civil war in Liberia created a considerable disruption of economic and commercial activities and loss of livelihood for a large proportion of the population. This resulted from massive displacement of the population, especially in rural areas. There has also been wholesale destruction of infrastructure and productive assets and adverse impact on investors confidence. In addition, the prolonged civil crisis seriously undermined the country's capacity for sound and coordinated economic and social policy formulation and management. Restoring this capacity is critical to accelerate and sustainable growth and development.

Objectives

-Strengthen the operational processes of the key economic management institutions, namely: Ministry of planning and Economic Affairs; Bureau of Budget; Ministry of Finance, General Auditing Office; Central bank of Liberia; and the council of Economic Advisor.

-Strengthen capacity for comprehensive data collection and analysis and formulation of strategic programmes and plans.

-Strengthen the Ministry of Finance's capacity to account for, analyze and manage Liberia's external public and private debts as well as strengthen revenue collection systems.

Revitalize the capacity of the Ministry of Planning and Economic Affairs for resource mobilization and aid coordination.

-Strengthen institutional support for private sector development.

Anticipated Outcomes

-Revitalized and strengthened system for strategic planning and monitoring

-Five year work plan initiated for sustainable systematic collection and analysis of social and economic information, involving all relevant agencies of government.

-Feasibility study conducted for modernizing and automating the Ministry of Finance's custom's operations to facilitate accelerated customs procedures, improve customs revenue generation and provide reliable trade statistic.

-Systematic review of current formal and informal operation processes, reporting procedures and work flow patterns of government ministries and agencies.

-Implementation of reform processes in collaboration with Civil service Agency.

-Detailed study of private sector status, particularly small and medium-scale enterprises, indicating constraints and opportunities.

-Enhanced support for private sector institutions and more supportive environment for private sector development.