Liberia’s policy and institutional performance improved by 3.3% in 2024, according to the World Bank’s latest Country Policy and Institutional Assessment (CPIA) report.
The country’s overall CPIA score rose from 3.0 to 3.1, reflecting incremental progress in economic management and social inclusion, but also underscoring deep-rooted challenges in governance, public service delivery, and regulatory quality.
Indicator 2023 2024 Change
Overall CPIA Score 3.0 3.1 +0.1 (+3.3%)
GDP (US$) $4.65B (est.) $4.8B +3.2%
GDP per capita (US$) $825 (est.) $846.3 +2.6%
International Poverty Rate 27.1% (est.) 26.4% –0.7 percentage points
Population 5.5M 5.6M +1.8%
Economic Management Drives Improvement
Liberia’s best-performing cluster, Economic Management, achieved a score of 3.3, 6.5% higher than the IDA average (3.1). The uptick is largely attributed to:
Monetary Policy (3.5): The Central Bank kept a tight monetary policy, helping bring inflation down to single digits.
Fiscal Policy (3.5): Boosted by digital tax systems (ITAS, ASYCUDA), leading to stronger revenue mobilization.
Debt Policy (3.0): Unchanged, suggesting the need for more sustainable borrowing frameworks.
Social Policy: Incremental Gains, Uneven Reach
The Social Inclusion and Equity cluster scored 3.1, up modestly from previous years. Notable scores:
Equity of Public Resource Use: 3.5
Gender Equality: 3.0
Building Human Resources: 3.0
Despite a 3.3% gain in overall social policy rating, rural areas remain underserved, and disparities in access to education, healthcare, and labor protections persist.
Structural Policy: Trade Leads, Financial Sector Lags
While Trade Policy saw one of the highest sub-scores at 3.5, supported by liberalization and improved port operations, the Financial Sector remains underdeveloped with a score of 3.0.
Mobile money usage continues to expand, yet broader financial inclusion is hindered by weak credit infrastructure and limited formal banking reach.
Governance and Institutions: The Weakest Link
The Public Sector Management and Institutions cluster remained the lowest, at 2.8 nearly 10% below the IDA average of 3.1. Key weaknesses include:
Property Rights & Rule of Law: 2.5
Budgetary Management: 2.5
Anti-Corruption & Transparency: 2.5
These scores have either stagnated or seen marginal improvements since 2018, indicating systemic governance bottlenecks or limited institutional accountability.
Regional Context
Liberia remains on par with Sub-Saharan Africa (SSA) IDA countries but still trails stronger reformers in the region:
Region/Country 2024 CPIA Score
Liberia 3.1
West & Central Africa Avg. 3.0
SSA IDA Avg. 3.0
IDA Global Avg. 3.1
Ghana/Rwanda/Senegal 3.4–3.6
Policy Outlook: Focus on Institutional Strengthening
The World Bank emphasized that while macroeconomic stability is improving, Liberia must accelerate institutional and infrastructure reforms to sustain progress.
Key recommendations:
Expand ITAS/ASYCUDA for broader tax compliance
Strengthen anti-corruption agencies and judicial independence
Invest in infrastructure and digital access
Promote citizen engagement and public awareness
“Liberia is on a slow but upward path. With targeted reforms, particularly in public governance and institutional transparency, the country can convert its potential into sustained growth and poverty reduction,” the report concludes.
However, unless governance, infrastructure, and regulatory gaps are addressed head-on, the country’s progress may remain uneven and vulnerable.