The Liberian economy is undergoing aprocess of structural transformation, as the dominanceofagriculture and mining gradually gives way to a risingservices sector. Much of the Liberian economy is structuredaround foreign direct investment (FDI) and the developmentof private agricultural, mining, and forestry concessions.The Liberian economy showed signs of recovery in 2017-2018,amid significant fiscal and external imbalances. Themedium-term outlook remains positive, assuming the newgovernment maintains prudent macroeconomic policies, pursuesa judicious borrowing policy, and implements plannedstructural reforms. The favorable medium-term growth outlookalso assumes that sound macroeconomic management andstructural reforms will strengthen investor confidence. TheGovernment’s medium-term development strategy (July2018-June 2023), the Pro-poor Agenda for Prosperity andDevelopment (PAPD), is designed around the priorities setforth in President Weah’s inaugural speech and State of theNation address: (i) combatting corruption; (ii) improvingefficiency and accountability in the public sector; (iii)promoting honesty and transparency in the private sector;(iv) narrowing infrastructure gaps, especially in thesoutheast; and (v) creating jobs, especially for youngworkers. The Country Partnership Framework emphasizes theimportance of shifting the focus of the WBG program frombeing infrastructure intensive under the previous CPS towarda more balanced approach with greater attention toeducation, agriculture, economic empowerment of women andyouth, and maternal and child health. WBG will supportsmallholder commercialization and private-sector investmentin agribusiness by fostering productive business linkagesamong smallholder farmers, selected agribusiness firms, andbusiness-development services—with a special focus onconstraints faced by women and youth.
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