Economic and Social Development: Accra Peace Agreement

ARTICLE XVII: CONTRACT AND MONOPOLIES COMMISSION (CMC)

1. A Contract and Monopolies Commission is hereby established in Liberia to oversee activities of a contractual nature undertaken by the NTGL.

2. Its mandate shall include:

(d) Ensuring the formulation and effective implementation of sound macro-economic policies that will support sustainable development goals;

Implementation History

2003

No Implementation

Progress regarding developmental projects was not available. 

2004

Minimum Implementation

The Contract and Monopoly Commission, and the Governance Reform Commissions, were established in February 2004 along with five other autonomous commissions mandated by the peace agreement.1

  • 1. "Liberia; JPC Boss Chairs Elections Commission As Govt. Constitutes Five Commissions," Africa News, February 2, 2004.
2005

Intermediate Implementation

No further developments occurred this year. In 2005, GDP grew by 5.3 percent.2

2006

Intermediate Implementation

No further developments occurred this year. In 2006, GDP grew by 7.8 percent, up from 5.3 percent in 2005.3

2007

Intermediate Implementation

By the end of 2007, Liberia had reached US$4.9 billion in external debt. Nevertheless, some of the debts were cancelled under the Heavily Indebted Poor Countries (HIPC) Initiative. Details regarding development projects are not avaiale. Nevertheless, in 2007, GDP grew by 9.5 percent.4

2008

Intermediate Implementation

No developments observed this year.

2009

Intermediate Implementation

No developments observed this year.

2010

Full Implementation

As of 2010, the external debt had been reduced to US$ 1.7 billion. Liberia had made significant economic progress in the post agreement period. Its mining and forest industries are now back.5 Liberia is gradually picking up economic activities that are more community driven and sustainable.

2011

Full Implementation

No further developments observed.

2012

Full Implementation

No further developments observed.