Can Liberia Ditch Foreign Aid by 2022?
Its president, Ellen Johnson Sirleaf, says yes and that African Americans can help.
(The Root) -- Liberian President Ellen Johnson Sirleaf has a vision for her country: to be off foreign aid in 10 years and "middle income" by 2030. She also sees a role for African Americans, to whom her people are linked by a shared history, in that vision.
Africa's first elected female head of state closed out her address to the United Nations General Assembly on Wednesday by assuring those gathered: "Despite the distractions, local and external, our people are determined to take their destiny into their own hands."
On Thursday Sirleaf also told a forum of future leaders at Columbia University, "We are determined that in 10 years, Liberia will not have to take foreign aid, that we can do it on the basis of our resources. We are determined, when I talk about a 2030 Vision, that come the year 2030, we will be a middle-income country."
Given that Liberia is one of the poorest countries in the world, according to data from the International Monetary Fund World Economic Outlook, it's an ambitious plan. The IMF reports, however, that the percentage of people living on less than $1 a day has declined from 64 percent in 2007 to 56 percent in 2011.
Liberia's National Vision 2030 plan, launched earlier this year, replaces the previous poverty-reduction strategy, Lift Liberia, and gives the people of Liberia a chance to take part in the national rebuilding process. But getting off foreign aid will not be easy.
Historically the country has relied on it. In 2008, when Lift Liberia began, foreign aid to the country represented 771 percent of government spending, according to the Financial Times, which did an analysis of African countries. In addition, U.S. aid to the country increased from 2010 to 2011.
But the IMF just reported, "Liberia's economic growth is on an upward trajectory and economic prospects over the medium term remain favorable. Real GDP growth is expected to reach close to 9 percent in 2012, driven by continued strong growth in the mining sector and rising activity in construction and other services."
Liberia is a country rich in natural resources -- including iron ore, rubber, timber, diamonds, gold and tin -- which Sirleaf, a former banker, is relying on to help the economy. The nation is also prospecting for oil.