—-President Boakai Holds 3rd Cabinet Meeting on Microeconomic Stability
President Boakai is about now holding his third Cabinet Meeting with a strategic focus on Macroeconomic and Trade Issues at the Executive Mansion.
As of now, the Liberian President Joseph Boakai has held at least three specific cabinet meetings focused on economic issues since the start of the year.
News reports and official sources confirm these meetings, though it is likely other, less publicized economic discussions have also occurred.
Economic cabinet meetings in 2025
On March 3, 2025, President Boakai held the first cabinet meeting of the year. He warned his ministers to focus on delivering results rather than “political ambitions for 2029” and emphasized national development, accountability, and urgent reforms. Economic stability was part of the broader agenda.
Subsequently on May 20, 2025, President Boakai again convened a cabinet meeting specifically to address declining foreign aid and discuss strategies for boosting domestic revenue.
August 13, 2025: The president held a high-level cabinet meeting with a strategic focus on “strengthening the economy, advancing fiscal reforms, and driving key governance priorities”.
Related economic meetings
It is important to note that microeconomic stability discussions are not limited to full cabinet meetings. Other forums, including those involving the Central Bank of Liberia, also focus on the economy:
- Central Bank of Liberia Monetary Policy Committee (MPC) meetings: The MPC, which is a separate body from the cabinet, met in January, April, and July 2025 to discuss and assess the macroeconomic outlook, inflation, and monetary policy.
- Fiscal and debt discussions: In February 2025, the International Monetary Fund (IMF) reported on discussions with Liberian authorities regarding the 2025 budget, which included fiscal consolidation efforts to ensure debt sustainability.
- Meetings with international partners: In July 2025, President Boakai met with U.S. officials to discuss promoting commercial projects and economic development.
It may be recalled, in July 2025, Liberian President Joseph Boakai appointed Vice President Jeremiah Koung to chair a new high-level committee investigating the disparity between falling import costs and consistently high market prices for essential goods. This mandate is part of the administration’s broader effort to address macroeconomic stability and ease the financial burden on Liberian families.
Committee’s mandate and actions
- Investigate market inconsistencies: In a July 26, 2025 announcement, President Boakai expressed that while input costs for goods like flour and sugar had decreased, retail prices remained a burden on citizens. He tasked the committee with investigating these market contradictions and recommending practical solutions.
- Price stabilization efforts: The committee’s work led to tangible results, including a price reduction for eggs announced on September 3, 2025. This followed earlier measures by the government to stabilize the prices of rice and flour.
- Enforcement: President Boakai has instructed the Ministry of Commerce and other relevant inspectorates to strictly enforce the new prices, threatening action against anyone caught inflating costs.
Broader economic context
- The ARREST Agenda: Vice President Koung’s role aligns with the government’s ARREST agenda, which focuses on key development areas including Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism.
- Economic performance: A mid-year review in August 2025 projected Liberia’s economy to grow by 5.6% in 2025, driven by the mining, agriculture, and manufacturing sectors. However, the report also highlighted challenges, including rising inflation and a significant national debt.
- International partnerships: As part of its economic strategy, Liberia is preparing for a second compact with the U.S. Millennium Challenge Corporation (MCC). An assessment team from the MCC is scheduled to visit Liberia in September 2025.
