Economic overview Liberia, in 36 editions.

In 1988 and 1989 Civil war during 1990 destroyed much of Liberia's economy, especially the Liberian economy posted its best two years infrastructure in a decade, thanks to a resurgence of and around Monrovia. Expatriate businessmen fled the rubber industry country, taking capital and rapid growth in exports of forest products. expertise with them. Many will not return. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia is had been a producer and exporter of basic products. Local products, while local manufacturing, mainly foreign owned, is had been small in scope. Liberia imports primarily machinery and parts, transportation equipment, petroleum products, and foodstuffs. Persistent budget deficits, the flight of capital, Political instability threatens prospects for economic reconstruction and deterioration repatriation of transport and other infrastructure continue some 750,000 Liberian refugees who fled to hold back economic progress. neighboring countries.

Civil war during 1990 destroyed much of Liberia's economy, especially the
infrastructure in and around Monrovia. Expatriate businessmen fled the
country, taking capital and expertise with them. Many will not return.
Richly endowed with water, mineral resources, forests, and a climate
favorable to agriculture, Liberia had been a producer and exporter of basic
products, while local manufacturing, mainly foreign owned, had been small in
scope. Political instability threatens prospects for economic reconstruction
and repatriation of some 750,000 Liberian refugees who fled to neighboring
countries. In 1991, the political impasse between the interim government and
the rebel leader Charles Taylor prevented restoration of normal economic
life.

Civil war during since 1990 has destroyed much of Liberia's economy, especially the
infrastructure in and around Monrovia. Expatriate businessmen Businessmen have fled the
country,
taking capital and expertise with them. Many will not return.
Richly endowed
with water, mineral resources, forests, and a climate
favorable to
agriculture, Liberia had been a producer and exporter of basic
products,
while local manufacturing, mainly foreign owned, had been small in
scope.
Political instability threatens prospects for economic reconstruction
and
repatriation of some 750,000 Liberian refugees who have fled to neighboring
countries. In 1991, the The political impasse between the interim government and
the rebel
leader Charles Taylor has prevented restoration of normal economic life,
life. including the re-establishment of a strong central government with effective
economic development programs.

Civil war since 1990 has destroyed much of Liberia's economy,
especially the
infrastructure in and around Monrovia. Businessmen have
fled the country,
taking capital and expertise with them. Many will
not return. Richly endowed
with water, mineral resources, forests, and
a climate favorable to
agriculture, Liberia had been a producer and
exporter of basic products,
while local manufacturing, mainly foreign
owned, had been small in scope.
Political instability threatens
prospects for economic reconstruction and
repatriation of some 750,000
Liberian refugees who have fled to neighboring
countries. The
political impasse between the interim government and rebel
leader
Charles Taylor has prevented restoration of normal economic life,
including the re-establishment of a strong central government with effective
effective economic development programs.

Civil war since 1990 has destroyed much of Liberia's economy,
economy, especially the infrastructure in and around Monrovia.
Businessmen have
fled the country, taking capital and expertise with
them. Many will
not return. Richly endowed with water, mineral
resources, forests, and
a climate favorable to agriculture, Liberia
had been a producer and
exporter of basic products, while local
manufacturing, mainly foreign
owned, had been small in scope.
Political instability threatens
prospects for economic reconstruction
and repatriation of some 750,000
Liberian refugees who have fled to
neighboring countries. The
political impasse between the interim
government and rebel leader
Charles Taylor TAYLOR has prevented restoration
of normal economic life,
including the re-establishment of a strong
central government with
effective economic development programs. The
economy deteriorated further in 1994.

Civil war since 1990 has destroyed much of Liberia's
Liberia's economy, especially the infrastructure in and around Monrovia.
Monrovia. Businessmen have fled the country, taking capital and
expertise with
them. Many will not return. Richly endowed with
water, mineral
resources, forests, and a climate favorable to
agriculture, Liberia
had been a producer and exporter of basic
products, while local
manufacturing, mainly foreign owned, had been
small in scope.
Political instability threatens prospects for
economic reconstruction
and repatriation of some 750,000 Liberian
refugees who have fled to
neighboring countries. The political impasse between the interim continued
government and rebel leader Charles TAYLOR political turmoil has prevented restoration
of normal economic life,
including the re-establishment of a strong
central government with
effective economic development programs. The
economy deteriorated
further in 1994. 1995.

Civil war since 1990 has destroyed much of
Liberia's economy, especially the infrastructure in and around
Monrovia. Businessmen have fled the country, taking capital and
expertise with them. Many will not return. Richly endowed with
water,
mineral resources, forests, forests and a climate favorable to
agriculture,
Liberia had been a producer and exporter of basic
products, while
local manufacturing, mainly foreign owned, had been
small in scope.
Political and economic instability - including the stripping of
resources by local warlords - threatens prospects for
economic reconstruction and
as well as the repatriation of some an estimated 750,000 Liberian
refugees
who have fled to neighboring countries. The continued
political
turmoil has prevented restoration of normal economic life,
including
the re-establishment of a strong central government with
effective
economic development programs. The economy deteriorated
further in 1995.

Civil war since 1990 has destroyed much of
Liberia's
economy, especially the infrastructure in and around
Monrovia. Businessmen Many
businessmen have fled the country, taking capital and
expertise with
them. Some returned during 1997. Many will not return. Richly endowed
with water,
mineral resources, forests forests, and a climate favorable to agriculture,
agriculture, Liberia had been a producer and exporter of basic
products, while
local manufacturing, mainly foreign owned, had been
small in scope. The democratically elected government, installed in
Political August 1997, inherited massive international debts and economic instability - including currently
relies on revenues from its maritime registry to provide the stripping bulk of
resources by local warlords - threatens prospects for reconstruction its foreign exchange earnings. The restoration of the infrastructure
as well as and the repatriation raising of an estimated 750,000 Liberian refugees incomes in this ravaged economy depends on
who have fled to neighboring countries. The continued political
turmoil has prevented restoration disarmament of normal economic life, including
factions and the re-establishment implementation of a strong central government with effective sound
economic development programs. macro- and micro-economic policies of the new government.

Civil A civil war since 1990 in 1989-97 has destroyed much of Liberia's
Liberia's economy, especially the infrastructure in and around
Monrovia. Many
businessmen have fled the country, taking capital and
expertise with
them. Some returned during 1997. Many will not
return. Richly endowed
with water, mineral resources, forests, and a
climate favorable to
agriculture, Liberia had been a producer and
exporter of basic
products, while local manufacturing, mainly
foreign owned, had been
small in scope. The democratically elected
government, installed in
August 1997, inherited massive
international debts and currently
relies on revenues from its
maritime registry to provide the bulk of
its foreign exchange
earnings. The restoration of the infrastructure
and the raising of
incomes in this ravaged economy depends on
continued disarmament of factions and the implementation of sound
sound macro- and micro-economic policies of the new government. government,
including the encouragement of foreign investment.

A civil war in 1989-97 has 1989-96 destroyed much of
Liberia's economy, especially the infrastructure in and around
Monrovia. Many businessmen have fled the country, taking capital and
expertise with them. Some returned during 1997. Many will not
return. Richly endowed with water, mineral resources, forests, and a
climate favorable to agriculture, Liberia had been a producer and
exporter of basic products, while local manufacturing, mainly
foreign owned, had been small in scope. The democratically elected
government, installed in August 1997, inherited massive
international debts and currently relies on revenues from its
maritime registry to provide the bulk of its foreign exchange
earnings. The restoration of the infrastructure and the raising of
incomes in this ravaged economy depends depend on the implementation of
sound macro- and micro-economic policies of the new government,
including the encouragement of foreign investment.

A civil war in 1989-96 destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen fled the country, taking capital and expertise with them. Some returned during 1997. Many will not return. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, while local manufacturing, mainly foreign owned, had been small in scope. The democratically elected government, installed in August 1997, inherited massive international debts and currently relies on revenues from its maritime registry to provide the bulk of its foreign exchange earnings. The restoration of the infrastructure and the raising of incomes in this ravaged economy depend on the implementation of sound macro- and micro-economic policies of the new government, including the encouragement of foreign investment. Recent growth has been from a low base, and continued growth will require major policy successes.

A civil war in 1989-96 destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen fled the country, taking capital and expertise with them. Some returned during 1997. Many returned; many will not return. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, while local manufacturing, mainly foreign owned, had been small in scope. The democratically elected government, installed in August 1997, inherited massive international debts and currently relies on revenues from its maritime registry and timber industry to provide the bulk of its foreign exchange earnings. The restoration of the infrastructure and the raising of incomes in this ravaged economy depend on the implementation of sound macro- and micro-economic policies of the new government, including the encouragement of foreign investment. Recent growth has been from a low base, and continued growth will require major policy successes. successes and containment of armed rebellion.

A civil Civil war in 1989-96 and misgovernment have destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen have fled the country, taking capital and expertise with them. Some have returned; many will not return. not. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, while local products - primarily raw timber and rubber. Local manufacturing, mainly foreign owned, had been small in scope. The democratically elected government, installed in August 1997, inherited massive international debts and currently relies on revenues from its maritime registry and timber industry to provide the bulk of its foreign exchange earnings. The restoration of the infrastructure and the raising of incomes in this ravaged economy depend on the settlement of civil warfare, the implementation of sound macro- and micro-economic policies of the new government, policies, including the encouragement of foreign investment. Recent growth has been from a low base, and continued growth will require major policy successes investment, and containment of armed rebellion. generous support from donor countries.

Civil war and misgovernment have destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen have fled the country, taking capital and expertise with them. Some have returned; returned, many will not. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products - primarily raw timber and rubber. Local manufacturing, mainly foreign owned, had been small in scope. The restoration departure of the former president, Charles TAYLOR, to Nigeria in August 2003, the establishment of the all-inclusive National Transition Government of Liberia (NTGL), and the arrival of a UN mission are all encouraging signs that the political crisis is coming to an end. The restoration of infrastructure and the raising of incomes in this ravaged economy depend on the settlement of civil warfare, the implementation of sound macro- and micro-economic policies, including the encouragement of foreign investment, and generous support from donor countries.

Civil war and misgovernment government mismanagement have destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Monrovia, while continued international sanctions on diamonds and timber exports will limit growth prospects for the foreseeable future. Many businessmen have fled the country, taking capital and expertise with them. Some have returned, but many will not. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products - primarily raw timber and rubber. Local manufacturing, mainly foreign owned, had been small in scope. The departure of the former president, Charles TAYLOR, to Nigeria in August 2003, the establishment of the all-inclusive National Transition Government of Liberia (NTGL), Transitional Government, and the arrival of a UN mission are all encouraging signs that necessary for the eventual end of the political crisis is coming crisis, but thus far have done little to an end. encourage economic development. The restoration reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on the implementation of sound macro- and micro-economic policies, including the encouragement of foreign investment, and generous financial support and technical assistance from donor countries.

Civil war and government mismanagement have destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia, while continued international sanctions on diamonds and timber exports will limit growth prospects for the foreseeable future. Many businessmen have fled the country, taking capital and expertise with them. Some have returned, but many will not. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products - primarily raw timber and rubber. Local manufacturing, mainly foreign owned, had been small in scope. The departure of the former president, Charles TAYLOR, to Nigeria in August 2003, the establishment of the all-inclusive Transitional Government, and the arrival of a UN mission are all necessary for the eventual end of have helped defuse the political crisis, but thus far have done little to encourage economic development. Wealthy international donors, who are ready to assist reconstruction efforts, are withholding funding until Liberia's National Assembly signs onto a Governance and Economic Management Action Plan (GEMAP). The Plan was created in October 2005 by the International Contact Group for Liberia to help ensure transparent revenue collection and allocation - something that was lacking under the Transitional Government and that has limited Liberia's economic recovery. The reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on generous financial support and technical assistance from donor countries.

Civil war and government mismanagement have destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia, while continued international sanctions on diamonds and timber exports will limit growth prospects for the foreseeable future. capital, Monrovia. Many businessmen have fled the country, taking capital and expertise with them. Some have returned, but many will not. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products - primarily raw timber and rubber. Local manufacturing, mainly foreign owned, had been small in scope. The departure of the former president, Charles TAYLOR, to Nigeria in August 2003, the establishment of the all-inclusive Transitional Government, and the arrival of President JOHNSON SIRLEAF, a UN mission have helped defuse the political crisis, but have done little Harvard-trained economist, has taken steps to encourage economic development. Wealthy reduce corruption, build support from international donors, who are ready to assist reconstruction efforts, are withholding funding until Liberia's National Assembly signs onto a Governance and Economic Management Action Plan (GEMAP). The Plan was created in October 2005 by the International Contact Group for Liberia to help ensure transparent encourage private investment. An embargo on timber exports has been lifted, opening a source of revenue collection and allocation - something that was lacking under for the Transitional Government and that has limited Liberia's economic recovery. government, but diamonds remain under UN sanctions. The reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on generous financial support and technical assistance from donor countries.

Civil war and government mismanagement have destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businessmen have businesses fled the country, taking capital and expertise with them. Some have returned, them, but many will not. with the conclusion of fighting and the installation of a democratically-elected government in 2006, some have returned. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products - primarily raw timber and rubber. Local manufacturing, mainly foreign owned, had been small in scope. President JOHNSON SIRLEAF, a Harvard-trained economist, banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. An embargo Embargos on timber and diamond exports has have been lifted, opening a source new sources of revenue for the government, but diamonds remain under UN sanctions. government. The reconstruction of infrastructure and the raising of incomes in this ravaged economy will largely depend on generous financial support and technical assistance from donor countries. countries and foreign investment in key sectors, such as infrastructure and power generation.

Liberia is a low income country heavily reliant on foreign assistance for revenue. Civil war and government mismanagement destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businesses fled the country, taking capital and expertise with them, but with the conclusion of fighting and the installation of a democratically-elected government in 2006, some several have returned. Liberia has the distinction of having the highest ratio of direct foreign investment to GDP in the world. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products - products, primarily raw timber and rubber. rubber and is reviving those sectors. Local manufacturing, mainly foreign owned, had been small in scope. President JOHNSON SIRLEAF, a Harvard-trained banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Embargos on timber and diamond exports have been lifted, opening new sources of revenue for the government. government and Liberia shipped its first major timber exports to Europe in 2010. The reconstruction country reached its Heavily Indebted Poor Countries initiative completion point in 2010 and nearly $5 billion of international debt was permanently eliminated. This new status will enable Liberia to estabilish a sovereign credit rating and issue bonds. Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. Rebuilding infrastructure and the raising of incomes in this ravaged economy will largely depend on generous financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation.

Liberia is a low income country heavily reliant on foreign assistance for revenue. Civil war and government mismanagement destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businesses fled the country, taking capital and expertise with them, but with the conclusion of fighting and the installation of a democratically-elected government in 2006, several have returned. Liberia has the distinction of having the highest ratio of direct foreign investment to GDP in the world. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, primarily raw timber and rubber and is reviving those sectors. Local manufacturing, mainly foreign owned, had been small in scope. President JOHNSON SIRLEAF, a Harvard-trained banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Embargos on timber and diamond exports have been lifted, opening new sources of revenue for the government and Liberia shipped its first major timber exports to Europe in 2010. The country reached its Heavily Indebted Poor Countries initiative completion point in 2010 and nearly $5 billion of international debt was permanently eliminated. This new status will enable Liberia to estabilish establish a sovereign credit rating and issue bonds. Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. Rebuilding infrastructure and raising incomes will depend on generous financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation.

Liberia is a low income country heavily reliant on foreign assistance for revenue. Civil war and government mismanagement destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businesses fled the country, taking capital and expertise with them, but with the conclusion of fighting and the installation of a democratically-elected government in 2006, several have returned. Liberia has the distinction of having the highest ratio of direct foreign investment to GDP in the world. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, primarily raw timber and rubber and is reviving those sectors. Local manufacturing, mainly foreign owned, had been small in scope. President JOHNSON SIRLEAF, a Harvard-trained banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Embargos on timber and diamond exports have been lifted, opening new sources of revenue for the government and Liberia shipped its first major timber exports to Europe in 2010. The country reached its Heavily Indebted Poor Countries initiative completion point in 2010 and nearly $5 billion of international debt was permanently eliminated. This new status will enable Liberia to establish a sovereign credit rating and issue bonds. Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. The IMF has completed the sixth review of Liberia's extended credit facility, bringing total disbursements to over $379 million. The African Development Bank approved a grant of $48 million in 2011 to support economic governance and competitiveness. Rebuilding infrastructure and raising incomes will depend on generous financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation. The country has achieved high growth during 2010-12 due to favorable world prices for its commodities.

Liberia is a low income country heavily reliant on foreign assistance for revenue. Civil war and government mismanagement destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businesses fled the country, taking capital and expertise with them, but with the conclusion of fighting and the installation of a democratically-elected democratically elected government in 2006, several have returned. Liberia has the distinction of having the highest ratio of direct foreign investment to GDP in the world. Richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, primarily raw timber and rubber and is reviving those sectors. Local manufacturing, mainly foreign owned, foreign-owned, had been small in scope. President JOHNSON SIRLEAF, a Harvard-trained banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Embargos on timber and diamond exports have been lifted, opening new sources of revenue for the government and Liberia shipped its first major timber exports to Europe in 2010. The country reached its Heavily Indebted Poor Countries initiative completion point in 2010 2010, and nearly $5 billion of international debt was permanently eliminated. This new status will enable Liberia to establish a sovereign credit rating and issue bonds. Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. The IMF has completed the sixth review of Liberia's extended credit facility, bringing total disbursements to over $379 million. The African Development Bank approved a grant of $48 million in 2011 to support economic governance and competitiveness. Rebuilding infrastructure and raising incomes will depend on generous financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation. The country has achieved high growth during 2010-12 due to favorable world prices for its commodities.

Liberia is a low income country that relies heavily reliant on foreign assistance for revenue. assistance. Civil war and government mismanagement destroyed much of Liberia's economy, especially the infrastructure in and around the capital, Monrovia. Many businesses fled the country, taking capital and expertise with them, but with the conclusion of fighting and the installation of a democratically elected government in 2006, several have returned. Liberia has the distinction of having the highest ratio of direct foreign investment to GDP in the world. Richly is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture, Liberia had been a producer and exporter of basic products, primarily raw timber iron ore and rubber and have driven growth in recent years. Liberia is also reviving those sectors. Local manufacturing, mainly foreign-owned, had been small in scope. its raw timber sector and is encouraging oil exploration. President JOHNSON SIRLEAF, a Harvard-trained Harvard-educated banker and administrator, has taken steps to reduce corruption, build support from international donors, and encourage private investment. Embargos on timber and diamond exports have been lifted, opening new sources of revenue for the government and Liberia shipped its first major timber exports to Europe in 2010. The country reached its Heavily Indebted Poor Countries initiative completion point in 2010, and nearly $5 billion of international debt was permanently eliminated. This new status will enable Liberia to establish a sovereign credit rating and issue bonds. Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. The IMF has completed the sixth review of Liberia's extended credit facility, bringing total disbursements to over $379 million. The African Development Bank approved a grant of $48 million in 2011 to support economic governance and competitiveness. Rebuilding infrastructure and raising incomes will depend on generous financial and technical assistance from donor countries and foreign investment in key sectors, such as infrastructure and power generation. The country has achieved high growth during 2010-12 2010-13 due to favorable world prices for its commodities. In the future, growth will depend on global commodity prices, on sustained foreign aid, trade, investment, and remittances, on the development of infrastructure and institutions, but mostly on maintaining political stability and security.

Liberia is a low income country that relies heavily on foreign assistance. It is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture. Its principal exports are iron ore, rubber, gold and timber. The Government government has attempted to revive raw timber extraction and is encouraging oil exploration.
In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. With the conclusion of fighting and the installation of a democratically elected government in 2006, businesses that had fled the country began to return. The country achieved high growth during 2010-13 due to favorable world prices for its commodities. However, in 2014 as the Ebolavirus began to spread, the economy declined and many businesses departed, taking capital and expertise with them. The epidemic forced the government to divert scarce resources to combat the spread of the virus, reducing funds available for needed public investment. The cost of addressing the Ebola epidemic will weigh heavily on public finances at the same time decreased economic activity reduces government revenue, although higher donor support will partly offset this loss.
Revitalizing the economy in the future will depend on increasing investment and trade, higher global commodity prices, sustained foreign aid and remittances, development of infrastructure and institutions, and maintaining political stability and security. The cost of addressing the Ebola epidemic will weigh heavily on public finances at the same time decreased economic activity reduces government revenue, although higher donor support will partly offset this loss.

Liberia is a low income low-income country that relies heavily on foreign assistance. assistance and remittances from the diaspora. It is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture. Its principal exports are iron ore, rubber, gold diamonds, and timber. gold. Palm oil and cocoa are emerging as new export products. The government has attempted to revive raw timber extraction and is encouraging oil exploration.
In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. Much of the conflict was fueled by control over Liberia’s natural resources. With the conclusion of fighting and the installation of a democratically elected government in 2006, businesses that had fled the country began to return. The country achieved high growth during the period 2010-13 due to favorable world prices for its commodities. However, in 2014 as during the Ebolavirus began to spread, 2014-2015 Ebola crisis, the economy declined and many foreign-owned businesses departed, taking departed with their capital and expertise with them. expertise. The epidemic forced the government to divert scarce resources to combat the spread of the virus, reducing funds available for needed public investment. The cost of addressing the Ebola epidemic will weigh heavily on public finances at the same time coincided with decreased economic activity reduces reducing government revenue, although higher donor support will partly significantly offset this loss. During the same period, global commodities prices for key exports fell and have yet to recover to pre-Ebola levels.
In 2017, gold is expected to be a key driver of growth, as a new mining project begins its first full year of production, and iron ore exports are also expected to improve as Arcelor Mittal opens new mines at Mount Gangra. The completion of the rehabilitation of the Mount Coffee Hydroelectric Dam in 2017 will increase electricity production to support ongoing and future economic activity, although electricity tariffs remain high relative to other countries in the region and transmission infrastructure is limited. Scheduled presidential and legislative elections in October 2017 will generate election-related spending pressures. Revitalizing the economy in the future will depend on economic diversification, increasing investment and trade, higher global commodity prices, sustained foreign aid and remittances, development of infrastructure and institutions, combating corruption, and maintaining political stability and security.

Liberia is a low-income country that relies heavily on foreign assistance and remittances from the diaspora. It is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture. Its principal exports are iron ore, rubber, diamonds, and gold. Palm oil and cocoa are emerging as new export products. The government has attempted to revive raw timber extraction and is encouraging oil exploration.
In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. Much of the conflict was fueled by control over Liberia’s natural resources. With the conclusion of fighting and the installation of a democratically elected government in 2006, businesses that had fled the country began to return. The country achieved high growth during the period 2010-13 due to favorable world prices for its commodities. However, during the 2014-2015 Ebola crisis, the economy declined and many foreign-owned businesses departed with their capital and expertise. The epidemic forced the government to divert scarce resources to combat the spread of the virus, reducing funds available for needed public investment. The cost of addressing the Ebola epidemic coincided with decreased economic activity reducing government revenue, although higher donor support significantly offset this loss. During the same period, global commodities prices for key exports fell and have yet to recover to pre-Ebola levels.
In 2017, gold is expected to be was a key driver of growth, as a new mining project begins began its first full year of production, and production; iron ore exports are also expected to improve increased as Arcelor Mittal opens opened new mines at Mount Gangra. The completion of the rehabilitation of the Mount Coffee Hydroelectric Dam in 2017 will increase increased electricity production to support ongoing and future economic activity, although electricity tariffs remain high relative to other countries in the region and transmission infrastructure is limited. Scheduled presidential Presidential and legislative elections in October 2017 will generate generated election-related spending pressures. Revitalizing the economy in the future will depend on economic diversification, increasing investment and trade, higher global commodity prices, sustained foreign aid and remittances, development of infrastructure and institutions, combating corruption, and maintaining political stability and security.

Liberia is a low-income country that relies heavily on foreign assistance and remittances from the diaspora. It is richly endowed with water, mineral resources, forests, and a climate favorable to agriculture. Its principal exports are iron ore, rubber, diamonds, and gold. Palm oil and cocoa are emerging as new export products. The government has attempted to revive raw timber extraction and is encouraging oil exploration.
In the 1990s and early 2000s, civil war and government mismanagement destroyed much of Liberia's economy, especially infrastructure in and around the capital. Much of the conflict was fueled by control over Liberia’s natural resources. With the conclusion of fighting and the installation of a democratically elected government in 2006, businesses that had fled the country began to return. The country achieved high growth during the period 2010-13 due to favorable world prices for its commodities. However, during the 2014-2015 Ebola crisis, the economy declined and many foreign-owned businesses departed with their capital and expertise. The epidemic forced the government to divert scarce resources to combat the spread of the virus, reducing funds available for needed public investment. The cost of addressing the Ebola epidemic coincided with decreased economic activity reducing government revenue, although higher donor support significantly offset this loss. During the same period, global commodities prices for key exports fell and have yet to recover to pre-Ebola levels.
In 2017, gold was a key driver of growth, as a new mining project began its first full year of production; iron ore exports are also increased as Arcelor Mittal opened new mines at Mount Gangra. The completion of the rehabilitation of the Mount Coffee Hydroelectric Dam increased electricity production to support ongoing and future economic activity, although electricity tariffs remain high relative to other countries in the region and transmission infrastructure is limited. Presidential and legislative elections in October 2017 generated election-related spending pressures.
Revitalizing the economy in the future will depend on economic diversification, increasing investment and trade, higher global commodity prices, sustained foreign aid and remittances, development of infrastructure and institutions, combating corruption, and maintaining political stability and security.