By G. Watson Richards
The International Monetary Fund (IMF), through its regional technical assistance arm AFRITAC West 2, has called for enhanced transparency and stronger fiscal reporting standards in Liberia following high-level talks with the Liberia Revenue Authority (LRA).
The discussions, held Wednesday in Paynesville, focused on improving how Liberia explains discrepancies between projected and actual government revenues in its consolidated financial statements-an issue seen as critical to strengthening fiscal accountability and policy decision-making.
Leading the IMF delegation, Ilyas Tufan stressed the importance of clear, evidence-based reporting to contextualize revenue performance.
“Clear explanations are essential for determining whether revenue deviations are caused by policy changes, administrative actions, or broader economic conditions. This helps ensure that fiscal performance is properly understood and accurately interpreted for decision-making,” Tufan said.
According to the LRA, the engagement forms part of a broader technical assistance mission aimed at improving fiscal reporting and analytical consistency within Liberia’s public financial management system.
The IMF team highlighted that transparent and detailed revenue reporting is key to maintaining trust among stakeholders, including development partners and the general public.
The talks also emphasized aligning Liberia’s fiscal reporting practices with international standards, particularly through consistent methodologies and data-driven analysis. Such reforms are expected to strengthen oversight and support more responsive policymaking.
LRA Commissioner General James Dorbor Jallah reaffirmed the institution’s commitment to reform and collaboration with international partners.
“We remain fully committed to enhancing the accuracy, transparency, and clarity of our revenue reporting systems.
As the lead institution for domestic resource mobilization, the LRA will continue to play a central role in supporting the government’s fiscal stability and broader economic reforms,” Jallah said.
He added that ongoing modernization efforts within the authority, including improved data systems-are designed to deliver more reliable and transparent revenue outcomes.
The IMF mission comes as Liberia intensifies efforts to boost domestic resource mobilization, a cornerstone of its development strategy.
Efficient revenue collection and credible reporting are seen as essential for financing public services, infrastructure, and long-term economic growth.
The visit underscores the longstanding partnership between Liberia and the IMF in advancing fiscal governance and strengthening public financial systems, with a shared goal of promoting sustainable economic management in the country.
