09/25/2025
"IMF Commits to Support Liberia’s State-Owned Enterprise Reforms, Stresses Shared Responsibility in Fight Against Corruption"
Monrovia, Liberia – September 24, 2025 – The International Monetary Fund (IMF) has pledged strong backing for reforms within Liberia’s state-owned enterprises (SOEs) following a high-level meeting with the Bureau of State Enterprises (BSE) on Tuesday. The engagement was part of the IMF’s Governance Diagnostic Mission, which is evaluating governance weaknesses and corruption vulnerabilities across Liberia.
The session, held at the BSE headquarters in Monrovia, was led by Mr. Graham Prentice, Technical Assistance Advisor in the IMF’s Fiscal Affairs Department. He was received by the Acting Director General of the BSE, Hon. Varlee F. Sanor, who welcomed the delegation and reaffirmed Liberia’s commitment to strengthening transparency, accountability, and good governance in the SOE sector.
Deputy Director General for Operations, Roosevelt K. Forh, presented a detailed report on the bureau’s achievements and challenges. He flagged persistent non-compliance by many SOEs, especially their reluctance to submit financial reports and contribute effectively to domestic resource mobilization. He also pointed to logistical shortfalls, limited human resource capacity, and interference from SOE boards as major barriers to effective oversight.
Mr. Prentice, speaking on behalf of the IMF, underscored that tackling corruption is not only a national duty but also a shared global responsibility. He raised critical questions on how the BSE is addressing financial leakages and ensuring accountability within the SOE framework. Acknowledging the progress made, he commended the BSE for advancing reforms, particularly the drafting of the State-Owned Enterprises Act (SEAL), which is currently before the National Legislature.
“The IMF recognizes corruption as a threat to sustainable economic development,” Mr. Prentice said. “We stand ready to work alongside Liberia in strengthening institutions, ensuring oversight, and pushing for reforms such as the SEAL Act that can safeguard public resources.
The Fund takes seriously its responsibility to support member states in curbing corruption and promoting governance standards that build public trust.”
Mr. Prentice further assured that the IMF would champion Liberia’s reform agenda on the international stage, including advocating for the passage of the SEAL Act and supporting broader structural reforms to improve transparency and accountability in state-owned enterprises.
In his closing remarks, Acting Director General
Hon. Varlee F. Sanor thanked the IMF delegation for its continued collaboration and reiterated the bureau’s determination to safeguard Liberia’s public assets. “The Bureau of State Enterprises remains committed to upholding good governance and fighting corruption in the best interest of the
Liberian people,” Sanor affirmed.
The meeting was build on an earlier IMF mission in July 2025. The current mission, which runs from September 18 to October 1, 2025, is expected to deliver a comprehensive action plan outlining priority reforms to address governance gaps and corruption vulnerabilities across Liberia.
Credit: BSE Media & Public Relations.
Bureau Of State Enterprises, Republic of Liberia
