Monrovia, Liberia – November 14, 2024

The Liberia Anti-Corruption Commission (LACC) welcomed a delegation from the International Monetary Fund (IMF), led by Mr. Joel Chiedu Okwuokei, Resident Representative in Liberia, on November 13, 2024, at its headquarters. 

The meeting was held as part of the IMF Mission team's first review of the Extended Credit Facility (ECF)-supported program for Liberia, scheduled from November 6 to November 19, 2024.

Key Topics Addressed

The agenda covered two critical areas:

1. Resource Allocation and Asset Verification Initiatives

2. Work Program for 2025

Meeting Highlights

The IMF delegation and LACC leadership engaged in a thorough discussion regarding the Commission's operational needs, with particular focus on the following:

a) E-Asset Declaration Platform: 

The IMF inquired about the status and implementation timeline for an electronic asset declaration platform, a key tool to improve transparency. Discussions also included potential support from the World Bank and other development partners, as well as plans for introducing risk-based compliance verification processes.

b) Funding Shortfalls and Financial Safeguards: 

The IMF raised concerns over a $1.6 million funding gap in the LACC's resources, seeking clarity on how this shortfall might impact ongoing projects. Additionally, there was a call for legal safeguards to protect the LACC's financial independence, such as establishing a dedicated budget line or securing annual funding guarantees.

c) Human Resources and Task Force Overlap: 

A shortage of human resources at the LACC, noted in recent audits, was highlighted as a major challenge. The IMF also asked about potential overlaps with the Task Force on Asset Recovery within the Office of the Minister of State for Special Services, assessing the impact on the LACC's effectiveness and independence.

In response, the LACC emphasized a significant barrier to swift anti-corruption action: 

Liberia currently has only one court handling both corruption and other criminal cases, leading to delays in prosecutions. To address this, the LACC has been actively engaging the Legislature to pass a draft bill for a specialized anti-corruption court, which is currently under legislative review. The establishment of this court would expedite corruption cases and strengthen Liberia's fight against corruption.

The LACC remains committed to collaborating with the IMF, World Bank, and other partners to advance these initiatives and reinforce Liberia's anti-corruption infrastructure.