MONROVIA–The Central Bank of Liberia (CBL) on Wednesday opened a 3-day National Non-Performing Loans Resolution Conference (NPLs) with Executive Governor Henry F. Saamio stating that resolving the NPLs is a national development imperative framing the initiative as national.
The NPLs Conference aimed at addressing high levels of bad debt in the banking sector and unlocking credit for private sector growth and job creation.
Addressing the stakeholders during the opening of the conference at the Ellen Johnson-Sirleaf Ministerial Complex, Governor Saamoi said the conference comes at a critical time as Liberia’s NPL ratio remains well above international benchmarks, constraining lending to farmers, businesses, and entrepreneurs.
Governor Saamoi disclosed that Liberia’s banking sector ended 2024 with an NPL ratio of 19.1 percent, nearly double the prudential benchmark. The figure he said declined to 12.9 percent in 2025, but he noted that much of the improvement came from restructurings and write-offs rather than sustainable recoveries.
“Across our nation, entrepreneurs seek capital to expand, farmers need financing to increase production, manufacturers require investment to grow industry, and women and the youth aspire to transform innovation into enterprise. Yet… access to credit remains constrained, and at the heart of this challenge lies the persistence of NPLs,” he said.
For context, he said healthy banking systems globally maintain NPL ratios of 5% or below.
Giving regional statistics, Governor Saamoi indicated that Ghana recorded 21.8% in 2024, Nigeria 8.1%, Guinea 6.7%, and The Gambia 4.6%.
The CBL Governor stressed that no country has resolved a systemic NPL problem through isolated action.
“Governments must play their part. Regulators must play their part. Banks must play their part. The judiciary must play its part. Borrowers must play their part. Development partners must play their part,” he told delegates.
According to him, the question before Liberia is not whether the NPL challenge can be overcome, but “whether we possess the collective resolve to act decisively and collaboratively.”
Over September 9-11, participants will focus on 5 objectives, including building a shared understanding of the causes and scope of NPLs in Liberia, assessing existing regulatory, legal and judicial frameworks for NPL prevention and resolution, identify reforms to strengthen credit risk management, debt recovery, and collateral enforcement, and learning from regional and international best practices.
He also stressed the need to develop a National NPL Resolution Roadmap with clear responsibilities and timelines.
Expected outcomes include a conference communiqué, an NPL Resolution Policy Roadmap, and a Reform Action Plan.
The conference was attended by President Joseph Nyuma Boakai, Sr., House Speaker Hon. Richard Nagbe Koon, members of the Legislature, Ministers, and heads of government agencies.
Also in attendance were representatives of the World Bank, IMF, IFC, African Development Bank, Afreximbank, and delegates from Nigeria, Ghana, Egypt, Kenya, and the United States. Leaders of the Liberia Bankers Association, Liberia Business Association, Liberia Chamber of Commerce, and Liberia Marketing Association also participated.
Governor Saamoi thanked President Boakai for his leadership on economic reforms and acknowledged support from development partners including the US Embassy and European Union.
According to him, the conference aligns with government’s broader goals on private sector development, financial sector modernization, economic diversification and job creation.
“The ultimate measure of success will not simply be lower NPL ratios,” he stated. “Success will be reflected in greater access to credit, better repayment terms, stronger businesses, expanded investment, increased employment opportunities, and improved livelihoods for our people.”
“Resolving non-performing loans is not only a banking sector objective, it is a national development imperative. It is about creating jobs, expanding opportunities, and building a more prosperous and inclusive Liberia,” he concluded.
The conference runs through Friday, September 11, 2026 under the theme, “Promoting Access to Finance to Support Private Sector Growth and Job Creation.”
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