Liberia's international reserves covered about 1.6 months of imports at the end of 2025, the World Bank said in its Liberia Economic Update on November 3. The Central Bank of Liberia's own measure was twice as high, at 3.2 months in both August 2025 and August 2026, when gross reserves reached $971.95mn. Its monetary policy committee cited 3.3 months of prospective imports in October.
Analysis: Timing alone cannot explain the difference, because the central bank's cover stood at 3.2 months both before and after the World Bank's year-end reading. Different definitions likely explain the gap, such as counting only usable reserves or including imports of services. Neither source explains its method. The difference matters because the central bank itself uses a three-month benchmark. One measure puts Liberia above it, the other well below. Banks and importers that rely on dollar liquidity are left with two very different readings. The IMF staff report on the fourth program review, usually published within two months of the September 28 board meeting, could show which measure the program uses.
Source: World Bank Group, World Bank press release, November 2026, End-2025; Central Bank of Liberia, Research, Policy & Planning Dept, CBL Monthly Economic Review, August 2026 (cover dated 8 August 2026; posted November 2, 2026), End-August 2026 and End-August 2025; Central Bank of Liberia (CBL), CBL Monetary Policy Committee Communique No. 28 (meeting of October 6, 2026), Q3 2026