Liberia Macroeconomic Policy Analysis Center (LIMPAC) of the Ministry of Finance and Development Planning ( MFDP) on Friday, October 19, 2018, conducted the first Policy Forum on the Liberian Economy.
The maiden Edition of LIMPAC Policy Forum 2018 was held at a local hotel in Sinkor, Monrovia.
At the Forum, participants and facilitators share knowledge on key strategies for diversification and recommendations to structurally transform the Liberian Economy.
In remark, Finance and Development Planning Minister, Samuel D. Tweah Jr. said the Forum is an educative one to inform the public that the Liberian economy was not diversified, meaning that the country has raw materials and the need to act on the raw materials by adding values to them.
He said Liberia needs to move its economy from dependent on natural resource salesmanship by making investment in value addiction, and adding new skills.
The Finance Minister said there are key challenges that the country faces including the ability to deliver.
He said one of the challenges that Liberia faces is that the country’s private sector is not picking up with the public sector.
“The Government has to be able to deliver better to transform our economy,” he said, among other things.
For his part, the Executive Director of the Liberia Macroeconomic Policy Analysis Center (LIMPAC), Del – Francis Wreh, said the aim of the Maiden Edition of the LIMPAC Policy 2018 Forum was to identify short, medium and long term strategies to promote Economic Diversification, Growth and Stability in Liberia in a post drawdown of the United Nations Mission in Liberia (UNMIL).
Meanwhile, LIMPAC is a specialized unit within the Ministry of Finance and Development Planning with responsibility for policy analysis, research and training of public officials in macroeconomic related issues.
The Center was founded by the Government of Liberia and the African Capacity Building Foundation ( ACBF) to conduct policy research and provide advisory services to the Government of Liberia in addition to implementing capacity building training activities.
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