By E. J. Nathaniel Daygbor
Senator Amara Konneh Chair of the Senate Committee on Public Accounts and Audit has issued a stark warning about Liberia’s mounting debt burden, revealing that the country’s total public debt has ballooned to $2.7 billion—representing approximately 57% of national GDP—since the start of the Boakai administration.
Speaking during a recent Senate session, Senator Konneh highlighted the troubling trajectory of both foreign and domestic borrowing. He noted that domestic debt alone now stands at $1.1 billion, a figure he described as “staggering,” with serious implications for economic growth and fiscal sustainability.
“Excessive borrowing crowds out private investment and diverts scarce resources from essential sectors such as health, education, and infrastructure,” Konneh stated, urging immediate reforms to restore fiscal discipline.
The Gbarpolu County Senator cited a recent audit by the General Auditing Commission (GAC), which found that 88% of domestic debt claims were rejected due to missing documentation and unsupported payment requests.
He characterized this as a systemic failure in financial governance and accountability.
“Budget credibility in Liberia remains a formidable challenge,” Konneh asserted. “We must fix these structural weaknesses to rebuild public trust and ensure responsible stewardship of national resources.”
In response to these findings, Senator Konneh, a former finance minister, pledged to work collaboratively with both the Legislative and Executive branches to strengthen debt management frameworks, improve transparency, and enhance oversight mechanisms.
The revelations come at a critical juncture for Liberia’s economy, which faces mounting pressure from inflation, limited private sector expansion, and constrained public investment.
Analysts warn that without decisive corrective measures, the country risks entering a cycle of unsustainable debt and diminished investor confidence.
