Alama ReportLiberia
Liberia · From Edition № 001 · Projects & infrastructure

Liberia issues $73mn zero-coupon bond to accelerate infrastructure funding

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Liberia's government issued a $73mn zero-coupon Treasury bond in July 2026 to support frontloaded infrastructure development, raising the stock of US dollar Treasury bonds to $247.39mn from $174.39mn in June, the Central Bank of Liberia said in its July economic review. Liberian-dollar Treasury bonds outstanding stayed at 7.6bn LRD (€40.1mn), and no US dollar Treasury bills were issued.

Analysis: Outstanding U.S. dollar Treasury bonds increased 42% from June and 66% from a year earlier, by our calculation, while Liberian-dollar bonds remained at 7.6bn LRD (€40.1mn). A zero-coupon bond is generally issued below face value and repaid at maturity, postponing rather than removing borrowing costs. The central bank did not disclose this bond's maturity or terms. Road and construction firms could receive work or payments sooner if the proceeds are used as planned. The draft 2027 budget, due to reach lawmakers by October 31, may provide the repayment schedule and project details.

Source: Central Bank of Liberia, Research, Policy & Planning Dept, CBL Monthly Economic Review, July 2026, July 2026; Central Bank of Liberia, Research, Policy & Planning Dept, CBL Monthly Economic Review, July 2026 (Vol. 12 No. 7), July 2026 and June 2026 and July 2025; Central Bank of Liberia, CBL daily market buying and selling rates, 27 October 2026

Every figure comes from the official source named under it. Spotted an error? Write to info@alamareport.com; corrections run in the next issue.

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