The Government of Liberia (GoL), through the Minister of Justice, Cllr. N. Oswald Tweh, has called for bold and coordinated action across West Africa to strengthen macroeconomic stability, deepen regional integration, and promote inclusive growth. Delivering special remarks on behalf of President Joseph Nyuma Boakai at the Second Ordinary Joint Meeting of the Economic and Monetary Affairs Committee of the West African Monetary Agency (WAMA), the Macroeconomic Policy Technical Committee of the ECOWAS Commission, and the Operations and Administration Committee of WAMA, Minister Tweh stressed that the region stands at a decisive moment that demands collective resolve and pragmatic reforms.
The high-level meeting, held on February 13, 2026, brought together finance ministers, central bank officials, policymakers, and regional economic experts to deliberate on fiscal coordination, monetary convergence, and institutional strengthening within the ECOWAS framework. Minister Tweh conveyed President Boakai’s warm greetings and congratulations to the gathering, noting that the Liberian leader is currently attending the African Union Summit to advance shared continental interests. He emphasized that the presence of representatives from sovereign states, regional institutions, financial authorities, and multilateral partners reflects a shared commitment to cooperation and sustainable prosperity.
Addressing delegates, the Justice Minister underscored that macroeconomic stability remains a cornerstone for development but cautioned that stability must not be confined to statistical achievements. Low inflation, prudent fiscal management, and sound banking systems, he said, are critical foundations, yet they must ultimately translate into tangible improvements in the lives of ordinary citizens. Economic reforms, he stressed, must generate sustainable employment, empower entrepreneurs, strengthen small and medium-sized enterprises, and expand access to education and healthcare services. Minister Tweh urged greater harmonization of monetary and fiscal policies across member states, noting that in an interconnected region, policy spillovers are inevitable.
Enhanced information-sharing and stronger regional surveillance mechanisms, he explained, are essential to reducing imbalances while preserving national policy space to protect livelihoods. He further emphasized the importance of expanding financial inclusion and deepening domestic capital markets. Broadening access to banking and digital financial services—particularly for women, youth, and rural communities—was described as fundamental to inclusive growth. The Minister also advocated for the development of domestic bond markets and innovative financing instruments to mobilize long-term resources for infrastructure, agriculture, and small businesses.
Public-private partnerships, supported by transparent procurement systems and robust legal frameworks, were highlighted as critical tools for attracting investment. Central to his message was the strengthening of governance, transparency, and the rule of law. Minister Tweh asserted that sustainable economic progress is inseparable from accountable institutions and predictable legal systems. He called for well-resourced courts, empowered regulatory bodies, and effective anti-corruption institutions capable of delivering justice swiftly and fairly.
Legal and institutional reforms that enhance contract enforcement and reduce arbitrariness, he said, would directly lower the cost of doing business and increase investor confidence. The Minister also drew attention to the urgent need for investments in human capital and technological adaptation. With the Fourth Industrial Revolution reshaping economies worldwide, he urged member states to prioritize education, vocational training, digital literacy, and research. Regional initiatives that facilitate labor mobility, skills recognition, and cross-border digital infrastructure were described as vital to unlocking opportunities for the region’s growing youth population. Climate resilience, he added, must be integrated into macroeconomic planning.
Climate-related risks are increasingly economic risks, affecting agriculture, infrastructure, and fiscal stability. He called for adaptation and mitigation strategies to be mainstreamed into budgets and public investment plans, while encouraging stronger regional cooperation to manage cross-border environmental threats and safeguard shared natural resources. Throughout his remarks, Minister Tweh emphasized that the joint meeting represents more than technical discussions about numbers and forecasts. It is an opportunity to align fiscal, monetary, and administrative instruments to catalyze investment, stabilize prices, protect vulnerable populations, and strengthen financial systems across West Africa.
He urged delegates to move beyond analysis and commit to concrete, implementable roadmaps that will deliver visible results for citizens. Liberia, he affirmed, stands ready to deepen cooperation, harmonize standards, and participate actively in regional initiatives aimed at strengthening monetary and fiscal resilience. “When our neighbors prosper, we all prosper,” the Minister declared, calling on policymakers to transform aspirations into action and ensure that reforms lead to more jobs, stable prices, better public services, and fairer opportunities across the region. The joint meeting forms part of ongoing efforts within ECOWAS structures to advance economic coordination and reinforce monetary integration as West Africa navigates evolving global challenges and opportunities.
Author: Zac T. Sherman
