The Central Bank of Liberia has released its Strategic Plan 2025-2029, setting out a five-year program built around five pillars: price stability, financial stability, financial inclusion and digital financial services, regional integration, and operational efficiency. The plan contains 55 critical initiatives designed to support the bank’s statutory objectives, with the main policy priorities including a move from monetary targeting to inflation targeting, a gradual de-dollarization roadmap, modernization of payment infrastructure, stronger financial sector supervision, and upgrades to governance, internal controls and technology. Key measures include a four-year de-dollarization roadmap for 2025-2028, a review at the end of 2027 on whether conditions are met to reconsider the USD’s legal tender status, and an assessment of Liberia’s readiness for the planned 2027 ECOWAS single currency launch. The bank also plans to deploy a Forecasting and Policy Analysis System, begin publishing Liberia’s International Investment Position, establish a deposit insurance fund, finalize a new insurance law to create an independent insurance commission, enhance credit reference and collateral registry infrastructure, modernize the National Electronic Payment Switch and other payment systems, and study a central bank digital currency. Headline targets include average inflation of 5 percent plus or minus 2 percent by 2029, national financial inclusion of 70 percent by 2028-2029, and an increase in the Liberian dollar share of broad money from 25 percent in 2023 to 50 percent by 2029. Implementation is estimated to cost L$11.46 billion, equivalent to USD 63.32 million, with an identified funding gap of L$7.94 billion, equivalent to USD 43.86 million. Sixteen initiatives are scheduled for completion in the first year and 17 in the second, with progress to be monitored through quarterly reporting, a midterm evaluation in 2027 and a final independent evaluation in 2029.
Central Bank of Liberia2025-05-05
Central Bank of Liberia releases 2025-2029 strategic plan with inflation targeting shift and USD 43.86 million funding gap
The Central Bank of Liberia has released its 2025-2029 strategic plan, built around five pillars and 55 initiatives covering inflation control, de-dollarization, financial sector oversight, payments modernization and operational reform. The plan targets inflation of 5 percent plus or minus 2 percent and a 70 percent financial inclusion rate by 2029, while raising the Liberian dollar share of broad money to 50 percent. Full implementation is estimated at USD 63.32 million, with a USD 43.86 million funding gap.