Liberian President Joseph Boakai has announced the formation of a temporary presidential committee to investigate the continued rise in local prices of goods and services, despite recent declines in import-related costs such as shipping and customs fees.
The move comes as Liberians face mounting economic hardship, with inflation squeezing household budgets and deepening public frustration. Boakai made the announcement during his address marking the 178th anniversary of Liberia’s independence, acknowledging what he called an “economic contradiction” that warrants urgent government action.
The president’s speech highlighted growing concerns that the benefits of reduced import costs are not reaching ordinary consumers. The newly formed committee will be tasked with uncovering the reasons behind the sustained price hikes and proposing policy interventions to ease the burden on citizens.
Call for Inclusive Investment Policies
Meanwhile, Emmet L. Dunn, the President’s Special Envoy for Partnerships and Philanthropy, called for a reexamination of Liberia’s investment policies. He emphasized the need to strengthen the “Liberianization” of the economy by reserving key sectors for Liberian nationals and ensuring that foreign investors allocate shares to local communities, either through individual ownership or cooperatives.
Dunn argued that such reforms are crucial to fostering a more independent and resilient national economy that is less reliant on external interests.
Memorial Initiative for Reconciliation
In a symbolic gesture toward national healing, President Boakai also unveiled plans for a new national monument to commemorate the victims of Liberia’s civil wars and the international peacekeepers who helped stabilize the country.
He proposed designating July 30 as a National Day of Prayer—an occasion to foster national unity and social cohesion in the face of the country’s ongoing economic challenges.
