Senator Duncan Calls for Comprehensive Economic Reforms Amid Global Aid Embargo

Monrovia, Liberia: Sinoe County Senator Crayton O. Duncan has stressed the urgent need for reform policies in concession agreements if Liberia must attain economic sustainability development amidst the shifting global economic trends. 

The Senator’s appeal, outlined in a formal communication to Senate Pro Tempore Nyonblee Karnga-Lawrence, comes as Liberia faces significant financial challenges following the U.S. President Donald Trump suspension of foreign aid under the United States Agency for International Development (USAID) operations.

Senator Duncan, who serves as Vice Chairman of the Senate’s Ways, Means, Finance & Budget Committee and Chairman of the Autonomous Agencies and Commissions Sub-Committee, stressed that Liberia must seize the donor’s fatigue crisis as an opportunity to pursue economic independence and long-term growth.

Key proposals highlighted in Senator Duncan’s communication, among others, include a comprehensive review of all concession agreements in Liberia’s extractive and agricultural sectors, placing emphasis on rubber, timber, iron ore, palm oil, gold, diamonds, and crude oil.

He added that concessionaires must build roads, schools, and hospitals in areas affected by their operations, adding that the agreements must specify timelines, project scopes, and penalties for non-compliance.

Senator Duncan criticized the current policy for its failure to empower Liberian-owned businesses, citing instances where Liberian professionals are being sidelined in favor of foreign business firms.

According to Senator Duncan, economic reforms would fail without tackling systemic corruption, referencing the recent controversy involving the National Disaster Management Agency (NDMA), where US$500,000 in project expenses from the previous administration was allegedly misrepresented.

He entreats his fellow senators to move swiftly and establish a national committee comprising lawmakers, legal experts, and international partners to draft the necessary legislative policy document to effectuate the reforms. 

The Sinoe Senator emphasized that legal reforms are critical for transforming Liberia’s management of natural resources and promoting sustainable economic growth.

Senator Duncan: "Our overdependence on foreign aid has left us vulnerable, despite our abundant natural resources. The time has come for bold legislative action that prioritizes Liberian interests and ensures that our resources benefit our people."

Edited: E. Geedahgar Garsuah, Sr.