President George Weah has suspended import tariffs on agricultural products and materials with immediate effects.
President Weah’s action is contained in Executive Order #115 issued Monday, January 23, which aims to solidify the gains realized under Executive Order No. 106 and to continue to accelerate the development of the forestry and agricultural sectors in Liberia.
The action furthers the government’s determination to seek and promote a stable macroeconomic environment that enables private-sector-led economic growth, greater competitiveness, and diversification of the economy.
The Order is consistent with the PAPD, the Liberian Government, and international partners’ determination towards making tremendous strides to boost the Agriculture Sector by working with key market players to make agriculture affordable for farmers through; inter alia, farm development and management, aggregation, Good Agriculture Practices (GAP), Training and enabling Legislation that would boost Agriculture output.
The President also indicated that the decision stemmed from the findings of local and international partners in the Agricultural Sector and the government’s internal review process which discovered that the Tariffs associated with Agriculture Inputs are high, and affecting the Agricultural Sector adversary and poor Rural Farmers who rely predominantly on Agriculture for their livelihood.
The Liberian Leader indicated in the Order that it is also against the realization that the causal effect that such high tariffs have on the Agricultural Sector and livelihood of rural farmers, contravenes its Agenda to promote a stable macroeconomic environment, enable private-sectored economic growth, competitiveness, and diversification in the Liberian economy.
The President envisioned that by lowering the tariffs associated with the importation of Agricultural Inputs, the imports of agro-distributors would increase, and the price of Agriculture InputFarmers would be lowered.
At the same time, President George Weah has summited to the Liberian Senate for ratification of a financing agreement between the government of Liberia and the International Development Association.
The agreement according to a communication from the Liberian leader was signed on July 4, 2022, between the government of Liberia and the International Development Association with the objective of improving social and livelihood services for women and girls in targeted communities.
The agreement further seeks to foster positive and social norms and as well strengthen the government’s capacity to advance women’s and girls’ empowerment across the Country.
The President’s communication at the same time disclosed that the agreement will extend to the Republic of Liberia a grant and credit deemed as Concessional Financing in the tone of third-teen million three hundred thousand Special Drawing Right and third-teen million three hundred thousand as a grant.
It further that the amount of USD 20 million Special Drawing Right and USD 20 million as credit, expressing hope that the Senate will ratify the agreement to help strengthen the government’s capacity to advance women and girls’ empowerment.
For their part, members of the Liberian Senate voted to forward the President’s communication to the Committees on Ways, Means, and Finance and Judiciary to report to the Plenary.