Gov’t Launches Major Initiative to Boost Domestic Revenue and Tax Reform

By Lewis S. Teh

Monrovia, Liberia – March 6, 2026 – The Government of Liberia, in partnership with the African Development Bank (AfDB) and the Export–Import Bank of Korea (KEXIM), has launched the KSP–AfDB Joint Consulting Seminar to boost domestic revenue mobilization and enhance tax administration, particularly in the country’s mining and extractive sectors.

The launch took place in Monrovia under the theme “Enhancing Domestic Resource Mobilization in Liberia through Evidence-based Policy Reforms,” culminating in the signing of an Aide-mémoire reaffirming Liberia’s and its development partners’ commitment to strengthening fiscal systems.

The initiative is part of the Korea Knowledge Sharing Program (KSP), which aims to modernize Liberia’s tax policies, improve fiscal governance, and provide technical support and capacity-building for government officials. The project will conduct a comprehensive analysis of Liberia’s tax system with a focus on revenue management in the mining sector, one of the country’s key economic pillars.

Speaking at the event, Mr. Yung Jin Kim, Chief Executive of KEXIM’s Accra Office, stressed that the initiative will generate evidence-based policy recommendations and provide Liberian officials with exposure to Korea’s digital tax administration systems, including online tax portals. “These experiences will provide valuable insights to support Liberia’s efforts to modernize its fiscal systems,” he said.

Deputy Minister for Fiscal Affairs, Anthony G. Myers, highlighted the project’s role in addressing revenue leakages, improving compliance, and supporting broader fiscal reforms, emphasizing that effective policy must be grounded in data and sector realities.

The AfDB Country Representative to Liberia, Rees Mwasambili, reaffirmed the Bank’s support for Liberia’s development agenda, noting that the country currently benefits from an active AfDB portfolio valued at nearly US$400 million, with investments in infrastructure, governance, agriculture, and energy. He added that improving domestic revenue generation, particularly in strategic sectors like mining, is essential to reducing fiscal deficits and promoting sustainable economic development.

The seminar represents the first phase of consultations under the initiative, providing a platform for stakeholders to share insights and feedback that will inform future policy recommendations. The partnership aligns with Liberia’s broader development strategy, emphasizing governance reform, economic growth, and expanding the national revenue base to finance public services, infrastructure, and job creation.