Africa-Press – Liberia. The Government of Liberia, through the Central Bank, is hosting a pivotal joint meeting of the Economic and Monetary Affairs Committee of WAMA and the Macroeconomic Policy Technical Committee of the Equal Opportunities Commission. This event brings together regional stakeholders to advance West Africa’s monetary integration agenda.
CBL Executive Governor Henry F. Saamoi, in his opening remarks, underscored Liberia’s commitment to regional cooperation and integration. He emphasized the country’s strong macroeconomic performance, including 5.1% GDP growth and declining inflation, as evidence of Liberia’s readiness to contribute to the Equals Single Currency initiative.
Despite global uncertainties, Governor Saamoi noted, West Africa remains resilient, with growth projected at 4.8% in 2025. The meeting will focus on securing durable stability and shared prosperity through fiscal discipline, monetary coordination, and structural reforms.
Governor Saamoi highlighted Liberia’s progress in meeting two primary convergence criteria, implementing key financial sector reforms, and launching an inclusive payment system to boost financial inclusion. He described the joint committee as the technical backbone of the Equals monetary integration effort, providing a platform for strategic dialogue and decisive action.
Recalling the wisdom of Dr. Kwame Nkrumah, Governor Saamoi reminded participants that the forces uniting West Africans are greater than those dividing them. This spirit of unity, he said, is essential to achieving lasting monetary integration.
He acknowledged that the meeting takes place amid ongoing global economic challenges, including geopolitical shifts, fluctuating commodity prices, tighter financial conditions, and rapid technological changes. Nonetheless, West Africa continues to demonstrate resilience, as seen in steady growth, moderating inflation, and improving fiscal positions across member states.
According to the CBL Governor’s report, global output is projected to remain steady at 3.3% for 2026, with inflation expected to ease to 4.1% in 2025 and 3.8% in 2026, down from 5.8% in 2024, largely due to lower commodity prices and subdued global demand.
Governor Saamoi cautioned that advanced economies are still grappling with wage pressures, while emerging markets remain vulnerable to exchange rate fluctuations and price instability. He also noted that global monetary and financial conditions in 2025 will be shaped by rising inflation and a weakening U.S. dollar, raising the risk of abrupt asset price adjustments.
The outcome of this meeting could be instrumental in paving the way toward a prosperous West African monetary union.
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