The International Monetary Fund has raised alarm over “widespread corruption” in Liberia and urged urgent reforms to shore up governance and restore public trust, according to a report released by the Washington based lender.
Kept “under keys and locks” by Liberian authorities, the report calls for intensified anti-corruption measures, including a stronger regulatory framework for the Liberia Anticorruption Commission and improvements to the country’s antimony laundering and counterterrorist financing regime.
IMF directors also emphasized the importance of a governance diagnostic study to provide a foundation for critical policy reforms.
The warning comes as President Joseph Boakai’s administration, which campaigned on promises to rein in corruption and hold officials accountable after taking office in January 2024 faces a string of high-profile allegations that critics say undermine those commitments.
Liberia’s Auditor-General flagged more than $100 million in unsupported, undocumented or unaccounted-for transactions in the Government of Liberia’s Consolidated Funds Account for the period 1 January–31 December 2024, according to the General Auditing Commission report.
Civil society groups have accused President Boakai of building an estimated $10 million villa in his native Foya, Lofa County, an allegation that has stoked public outrage.
Meanwhile, a series of procurement scandals tied to the Ministry of Finance and Development Planning (MFDP) are said to have cost taxpayers more than $760,000, with potential additional losses nearing $1 million, according to activists and local reporting.
Sources within the LACC told Oracle News Daily that an inquiry into multiple corruption allegations involving the Finance Ministry has concluded and the findings were submitted to LACC Executive Chairperson Alexandra Zoe.
Yet only two cases — involving a Budget Management System contract and the purchase of two buses — appear on the LACC’s public case list, leaving other reportedly serious matters unaddressed.
One of the most prominent unresolved matters concerns Deputy Minister of Finance for Administration Bill McGill Jones and a $322,441 renovation contract awarded to Elite Group of Companies. Reports surfaced in early January that Jones presented a supporting document purportedly from the U.S.
Embassy to justify the contract; the embassy has since identified the document as fraudulent. Critics have accused senior ministry officials of self-dealing and called for transparent investigations and recovery of public funds.
Deputy Minister Jones has defended the procurement, telling reporters the process complied with the Public Procurement and Concessions Act and that Elite Group was selected following commendations from reputable institutions, including the U.S. Embassy.
The IMF report’s call for a clearer regulatory framework for the LACC seeks to ensure transparency in anticorruption efforts and to bolster public confidence in agencies tasked with pursuing graft.
Directors also urged strengthening the AML/CFT framework — a move the IMF says is critical to safeguarding Liberia’s financial integrity and supporting broader governance reforms.
