The Central Bank of Liberia (CBL) on Tuesday, May 13, 2025, launched its strategic plan for 2025-2029 to donors and stakeholders within the country. The strategic plan was launched under the theme “Optimal Use of Technology for Macroeconomic Stability and Inclusive Economic Growth”
The plan has carefully been adopted to reflect and represent the vision of the Executive Management Team and the Board of Governors, ensuring alignment with the institution’s overarching goals and objectives.
Giving a special statement, CBL Executive Director Henry F. Saamoi extended gratitude to the Board of Governors, the entire CBL family and their valued stakeholders for their support and contribution throughout the process.
Governor Saamoi said the plan is built around five pillars which includes price stability, regional integration, operational efficiency, financial stability and financial inclusion and digital financial service.
He said the total cost for the strategic plan is US$ 63.32million and seven of the projects under the plan have already been funded by the African Development and World Banks, leaving a total of US$47.3 million funding gap.
He further said out of that amount, CBL has included in its budget for 2025 and 2026 a total of US$6.31 million thereby reducing the funding gap to US$41.00 million to support 10 projects under the strategic plan.
For his part, CBL Director for Development Finance Department, J. Gbleh-bo Brown, said the strategic plan serves as a comprehensive roadmap, guiding the bank’s actions and priorities as it strives to foster macroeconomic stability, promote financial inclusiveness and support sustainable development throughout Liberia.
He said in developing the plan, the Strategic Plan Committee reached out to a wide range of stakeholders, including their international partners, marketers, rural population, VSLAs, credit unions and the MACS.
Brown said the plan is developed at a critical moment as Liberia has recently signed a new four year Extended Credit Facility (ECF) program with the International Monetary Fund (IMF) and has launched a new development plan.
According to him, the goal of the strategic plan is to transform and rebrand the CBL, making it an institution of public trust and confidence and the commitment is to lead by example by achieving core mandates and seeking the best interest of the Liberian people.
U.S Embassy Senior Economic Officer, Jonathan Hilton applauded the effort of CBL and appreciated them for allowing the embassy review, recommendation and edit; adding that it is a well laid out plan and will go a long way to developing the confident and financial inclusion plan.
He said the plan is crucial in achieving President Joseph N. Boakai ARREST agenda and will also go a long way to improve the business climate and will be key in attracting and boosting Liberia investment and foreign investment.
African Development Bank Senior Consultant, James F. Davies, said the banks appreciate CBL for developing the strategic plan and they will continue to work with CBL to ensure that the key objectives of the plan are achieved and look forward to moving the economy to become stable as they look within the plans.
Davies said financial sector development is good for economic growth and money as whole when it goes around the economy becoming the oil in the engineer that makes it move.
