Monrovia, Liberia – The Governor of the Central Bank of Liberia (CBL), Henry Saamoi, has concluded a high-level engagement with the House of Representatives’ Joint Committee on Banking and Currency, providing critical updates on the state of the Liberian economy and the CBL’s ongoing policy actions.
Appearing with two of his deputiny governors, Governor Saamoi responded to a formal directive from the legislative committee, which is seeking stronger oversight and enhanced transparency in Liberia’s financial governance. The meeting, held at the Capitol, focused on fiscal policies, monetary strategies, and the broader macroeconomic outlook for the country.
According to Saamoi, Liberia’s Real Gross Domestic Product (GDP) is estimated to grow by 4.8% in 2024, up slightly from 4.6% in 2023. He projected a further expansion of 5.6% in 2025. The Central Bank head attributed the growth primarily to gains in the agriculture and forestry sectors, which remain the driving forces in the country’s primary economic activities.
The Governor also highlighted that inflation, despite global economic headwinds, has remained in single digits on average, a result of deliberate and sustained monetary interventions.
“Despite global pressures from rising food, fuel, and commodity prices, the CBL’s monetary policy stance has targeted broad macroeconomic stability,” Saamoi said. “CBL’s liquidity management and monetary-fiscal coordination are expected to keep inflation within target and support growth in the short-to-medium term.”
The House Committee on Banking and Currency, chaired by Representative Anthony F. Williams, praised the CBL Governor for his openness and detailed presentation. Williams emphasized the importance of a strong, working partnership between the Legislature and the Central Bank to ensure sustainable economic development and financial integrity in Liberia.
