Monrovia – The World Bank Group Managing Director and Chief Knowledge Officer, Mr. Pascal Donohoe, has congratulated the Central Bank of Liberia on monetary stability, banking strength, and digital payments progress, calling the progress “a great moment of opportunity” amid global risks.
Mr. Donohoe emphasized the private sector’s role in job creation, especially with 90% of Liberian businesses with under eight employees, while praising the LIFT Project progress, which deployed USD6 million through seven institutions to over 200 SMEs (40% new to commercial credit).
He committed the World Bank’s support toward the CBL’s credit Reference System, which will be launched in April 2026 and insolvency reforms, underscoring that strong tax revenues alone cannot succeed without private sector dynamism.
Mr. Donohoe made these remarks during his March 20 visit to the CBL headquarters in Monrovia, his first trip to West Africa since his November 2025 appointment.
Welcoming the World Bank’s Official, the Executive Governor of the Central Bank of Liberia, Henry F. Saamoi, highlighted significant progress made by the Bank in strengthening macroeconomic stability and advancing financial sector reforms to support inclusive and sustainable growth.
He emphasized that prudent monetary policy has contributed to a stable and predictable inflation environment, with inflation declining to 4 percent at end-December 2025 – the first time in nearly two decades. This downward trend has continued, with inflation moderating further to 3.2 percent in January and 3.1 percent by end February 2026.
Governor Saamoi also underscored improvements in the banking sector, noting that enhanced supervision, stronger regulatory compliance, and improved risk management practices have led to a significant reduction in non-performing loans (NPLs), which declined from 21.6 percent in January 2025 to 12.79 percent at end-February 2026.
He further highlighted the successful introduction of the new family of Liberian banknotes, which has strengthened public confidence in the currency and improved the efficiency of cash transactions nationwide.
On financial inclusion and digital transformation, the Governor pointed to notable progress in expanding access to digital financial services. He disclosed that Liberia’s Instant and Inclusive Payment System (IIPS), launched on December 16, 2025, has recorded over 1.53 million transactions, valued at approximately LRD 1.43 billion and USD 9.03 million as of March 15, 2026, within just three months of operation. He noted that these figures were achieved using only two initial use cases – person-to-person (P2P) and government-to-person (G2P) payments.
Governor Saamoi added that the Central Bank is now advancing the deployment of the National Electronic Payment Switch, a major initiative aimed at integrating all financial sector players into a unified and efficient payments ecosystem.
In addition, he highlighted progress in institutional governance reforms, including strengthened internal controls and enhanced transparency measures. These reforms have contributed to the CBL recording operational surpluses in 2024 and 2025 for the first time in over two decades, reflecting improved financial discipline and institutional efficiency.
