World Bank outgoing Country Director for Ghana, Liberia and Sierra Leone, Pierre Frank Laporte, has been outlining progress made by Liberia during his tenure with support of the World Bank.
He pointed out that macroeconomic stability improved significantly to the extent that Liberia was able to cope with the impact of the COVID 19 pandemic with much more resilience than most countries in the region.
According to Bank’s outgoing Country Director Pierre, “we also saw the drop in inflation from double to single digits, and the exchange rate observed a notable strengthening.” Important macro-fiscal as well as structural reforms were realized in recent years, which the World Bank supported through a series of budget operations ranging from US$20 million to US$65 million annually, he emphasized.
These reforms, according to Mr. Laporte, were at times painful, courageous but imperative.
He commended the Government’s courage in implementing such difficult but key reforms, which have been critical in maintaining economic stability.
Country Director Laporte thanked his Excellency President George M. Weah, for the excellent support that he has given to the World Bank and to him as Country Director, these past four and a half years.
“I know how much his Excellency President Weah appreciates and values that collaboration that we have experienced over that time. Today’s event is a manifestation of this strong partnership that the World Bank and Liberia enjoy.
The World Bank executive made these remarks during a farewell reception tendered in his honor by the Government of Liberia at the Ellen Johnson Sirleaf Ministerial Complex in Monrovia on Tuesday, December 5, 2023.
