MONROVIA – Liberia’s gross international reserves have risen significantly to $722.5 million, bringing the country close to the critical three-month import cover benchmark, according to the Central Bank of Liberia (CBL).
Governor Henry F. Saamoi disclosed the figures during the reading of the Monetary Policy Committee communiqué.
Improvement from Previous Quarter
The reserve position marks a notable improvement from $575 million recorded at the end of 2025.
“We’ve moved from 2.5 months of import cover to 2.9 months… we are just about there,” Saamoi said.
Import Dependency Remains a Challenge
Despite the gains, Liberia’s heavy reliance on imports continues to put pressure on reserves.
“As much as we are building reserves, we also have the challenge of paying for goods… especially fuel imports,” he explained.
External Sector Dynamics
Export earnings from gold, iron ore, and other commodities have supported reserve growth, but rising import bills continue to offset gains.
The Central Bank noted that global oil price shocks and geopolitical tensions are contributing to external vulnerabilities.
Policy Implications
Maintaining strong reserves remains a key priority for the CBL as it seeks to stabilize the exchange rate and cushion against external shocks.
Saamoi expressed optimism that continued accumulation efforts will push reserves above the benchmark.
“If we continue on this trajectory, by July we should reach the three-month threshold,” he said.
Balancing Growth and Stability
The Governor emphasized that reserve accumulation must be balanced with domestic economic needs.
“Liberia is a heavily import-dependent country… so managing reserves requires careful coordination,” he added.
Follow The Liberian Post on Facebook and X (formerly twitter
