Liberia: Ex-Senate Chief Talks Expanding Access to Credit for SMEs

Former Senate Pro Tempore Armah Jallah has urged the administration of President Joseph Boakai to prioritize economic diversification and structural reform as a pathway to enhancing Liberia’s competitiveness and long-term resilience.

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Former Senate Pro Tempore Armah Jallah has urged the administration of President Joseph Boakai to prioritize economic diversification and structural reform as a pathway to enhancing Liberia’s competitiveness and long-term resilience.

Speaking on the state of the national economy, Jallah emphasized that Liberia’s continued dependence on extractive industries—such as rubber, iron ore, and timber—poses significant risks to sustainable development. He recommended a strategic shift toward agriculture, manufacturing, and digital services to broaden the country’s economic base.

“Strengthening infrastructure—particularly roads, ports, and reliable electricity—will attract both domestic and foreign investment,” Jallah stated. “Improving governance, enforcing transparent business regulations, and curbing corruption are essential to creating a predictable environment for investors.

Expanding access to credit for small and medium-sized enterprises (SMEs) and supporting value-added production can also stimulate job creation and innovation across sectors.”

Jallah referenced Article 7 of the 1986 Constitution of Liberia, which mandates the government to manage the national economy and natural resources in a manner that ensures inclusive participation by all Liberians.

“Implementing this article means crafting policies that empower citizens to own and benefit from national wealth—through local content laws, equitable land reforms, and entrepreneurship programs,” he explained. “Social competitiveness must also focus on human capital development by improving education, vocational training, and healthcare.

Promoting gender equality, youth empowerment, and access to technology will help build a skilled, inclusive, and resilient society.”

He concluded by urging the Government of Liberia to align its economic agenda with the spirit of Article 7, ensuring that Liberians are not merely observers but active stakeholders in shaping and benefiting from the nation’s economic future.

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