Monrovia, Liberia: The Government of Liberia has effectively met the requirements of the Millennium Challenge Corporation (MCC) Scorecard for Fiscal Year 2024 by passing 14 of the 20 indicators, exceeding expectations.
At a press conference held on Tuesday, November 8, 2023, Hon. Samuel D. Tweah, Jr., Liberia’s Minister of Finance and Development Planning, disclosed that President Weah improved the country’s reserves to about three hundred and thirty-two million United States dollars while blaming the past government for mismanaging over two hundred million during their tenure.
Minister Samuel Tweah assured that the government under President Weah will make improvements in areas that they failed in when he is re-elected.
These 14 indicators encompassed various aspects, including fiscal policy, inflation, political rights, civil liberties, control of corruption, trade policy, rule of law, freedom of information, gender in the economy, land rights and access, health expenditures, access to credit, employment opportunities, and immunization rates.
This achievement marks a significant improvement compared to the previous year, where Liberia fell short in 11 indicators, including several of those successfully passed this year, such as “rule of law,” “trade policy,” “inflation,” “fiscal policy,” and “immunization rates.”
A country is considered to have “passed” the scorecard when it fulfills at least 10 of the 20 indicators, which include the “Control of Corruption”, indicator and either the “Civil Liberties” or “Political Rights” indicator.
The Millennium Challenge Corporation Scorecard is an annual assessment of a country’s performance in areas such as investment in people, governance, and economic freedom.
The scorecard is used to determine eligibility for Millennium Challenge Corporation funding, which is aimed at reducing poverty and promoting economic growth in developing countries.
The Millennium Challenge Corporation is an independent U.S. government agency working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to countries that meet rigorous standards for good governance, fighting corruption, and respecting democratic rights.