Wednesday, May 05, 2010

Liberia reports on successful poverty reduction efforts

During a town hall meeting in West Philadelphia on Sunday, May 2, 2010, the Liberian government delegation set up a formal presentation on the implementation of a poverty reduction strategy program called “Lift Liberia.”

“Lift Liberia” entails four major pillars in which to approach poverty reduction: ‘peace and security, revitalization of the Liberian economy, improvement in Governance and Rule of Law and rebuilding of infrastructure and provision of basic services.’

The Liberian Government has given many thanks to the foreign aid reaching between $80 - $100 million dollars which helped them move forward with their plans. Starting with a debt of approximately $4.7 billion dollars, Liberia’s four pillar and Highly Indebted Poor Country Initiative (HIPC) implemented by the current administration has proven successful. In fact, the country’s debt was reduced all the way down to $1.4 billion dollars.

Despite there being challenges with corruption and struggles with the enforcement of law, the Liberian economic progression is an inspiring effort. Financial aid, a set goal, and a strategic approach at poverty is helping to bring the country out of poverty. The Liberian government expressed hopes to continue their efforts successfully in terms of the economy and corruption. Liberia sets a promising example to follow for other impoverished countries within Africa.

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-Yashina Burns