Economic Reform in Liberia

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Economic Reform in Liberia

John B. Taylor

Under Secretary of Treasury for International Affairs
Monrovia, Liberia

September 12, 2004

I have had a productive and successful two-day visit to Liberia, accompanied by Deputy Assistant Secretary Tony Fratto and joined by our team of U.S. Treasury advisers who have been doing a terrific job working here in Monrovia in recent months.
I held talks with the Chairman of the National Transitional Government of Liberia, Gyude Byrant, Finance Minister Lusinee Kamara, and Central Bank Governor Charles Green. Our talks are a continuation of several previous discussions we have had in Washington during the last year. They centered on how Liberia can achieve economic and financial sector reforms.
Liberia now has an opportunity to have a good government and to begin to improve the lives of its citizens. If Liberia continues to make substantial reforms, the United States and the international community will continue to help.
I am very impressed with the partnership of Liberians and the international community in restoring peace in Liberia. The United States is happy to be part of the Liberian peace process.
To acheive lasting peace Liberia needs to acheive an economic recovery by instituting reform measures that would leave no room for corruption and provide transparency and accountability in the allocation and management of resources. This is necessary if Liberia's friends, including the United States, are to remain committed to helping Liberia achieve economic prosperity.
Against this background, our team of Treasury advisers is now working here with Liberian financial sector institutions, including the Ministry of Finance, the Central Bank of Liberia, and the Bureau of the Budget.

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