Liberia has reinforced its role in West Africa’s economic integration drive after hosting the 58th meeting of the West African Monetary Zone (WAMZ) Technical Committee in Monrovia on Thursday, February 5, 2026.
The high-level meeting, held at the Central Bank of Liberia, brought together senior officials from across the subregion, including representatives of the ECOWAS Commission, the West African Monetary Institute (WAMI), the West African Monetary Agency (WAMA), the West African Institute for Financial and Economic Management (WAIFEM), and key international partners.
Delivering the opening address on behalf of the Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, Liberia’s Deputy Minister of Economic Management, Hon. Dehpue Y. Zuo, reaffirmed the country’s commitment to regional cooperation and the planned launch of the ECOWAS single currency, the Eco, targeted for 2027.
Zuo said Liberia was honoured to host the meeting, describing it as a critical platform for advancing the ECOWAS Monetary Cooperation Programme and deepening regional economic integration. He noted that although Liberia had initially planned to host the session in 2022, it was postponed due to the country’s bicentennial celebrations.
Providing an update on Liberia’s economic performance, Zuo highlighted a growth rate of 5.1 per cent in 2025, driven largely by mining activities and improvements in electricity and water services. He added that inflation declined to 4 per cent by December 2025, the lowest level recorded in more than 20 years.
According to him, Liberia recorded domestic revenue of US$847.7 million in 2025, exceeding its target by over US$43 million. Over the past two years, domestic revenue has increased by US$235.7 million, reflecting stronger fiscal consolidation, revenue digitalisation, and improved compliance.
Zuo also pointed to the government’s US$8.4 billion ARREST Agenda for Inclusive Development, which prioritises agriculture, roads, rule of law, education, sanitation and tourism, as a framework for sustainable growth and poverty reduction.
On regional convergence, he said Liberia had met five ECOWAS Macroeconomic Convergence Criteria by the end of 2025, including budget deficit control, exchange rate stability, debt sustainability, reserve accumulation and fiscal discipline, positioning the country as a model of economic reform and resilience in the subregion.
Chairman of the WAMZ Technical Committee, Mr. Alhaji Abu Komeh of Sierra Leone’s Ministry of Finance, commended Liberia for hosting the meeting and noted that the region continued to face global economic headwinds, including policy uncertainty and declining commodity prices. Despite these challenges, he said real GDP growth in the WAMZ was estimated at 5 per cent in the first half of 2025, up from 3.7 per cent in 2024.
Komeh also highlighted Sierra Leone’s economic indicators, including GDP growth of 4.4 per cent in 2025, inflation of 4.4 per cent by December, and a decline in public debt to 40.9 per cent of GDP. He stressed the importance of continued fiscal discipline, revenue mobilisation and public sector reforms to meet convergence targets ahead of the Eco launch.
The Director-General of WAMI, Dr. Abdulsalam Abidemi Sikiru, praised Liberia for its peaceful 2025 presidential elections and described the country as a stabilising force in the region. He emphasised the importance of technical preparations, noting that key reports on macroeconomic convergence, banking supervision and financial stability would guide the committee’s deliberations.
During the four-day session, delegates examined issues central to the monetary union, including remittances, development financing, legal frameworks, capital markets, payment systems integration through PAPSS, and banking supervision.
Observers say the Monrovia meeting marks a critical milestone in the region’s journey toward the ECOWAS Monetary Union. By strengthening policy coordination and validating key reforms, the session is expected to lay further groundwork for the planned introduction of the Eco in 2027, aimed at boosting trade, investment and economic stability across West Africa.
Source: AllAfrica