The Economy


World Bank Vice President for Africa Makhtar Diop

World Bank: Oil Prices Fall Affects Africa

The World Bank forecast has predicted that the fall in prices of oil and other commodities are likely to slow economic growth in Sub-Saharan Africa to four percent in 2015 from 4.5 percent in 2014.

The bank said in its Africa's Pulse, a twice-yearly analysis of the issues shaping Africa's economic prospects, released in Nairobi that excluding South Africa, the average growth for the rest of Sub-Saharan African countries is forecast to be around 4.7 percent.


Putu CEO Christian Masurenko

‘Putu Remains Committed to MDA’

The management of the Putu Iron Ore Mining Company (PIOM) has reassured the government and people of Liberia that it remains committed to the implementation of the Mineral Development Agreement (MDA) it signed with government.

The PIOM management stated that although in the last few months its activities were reduced it did not close down its operations, as had been rumored, according to a press release issued yesterday.


Putu CEO Christian Masurenko

‘Putu Remains Committed to MDA’

The management of the Putu Iron Ore Mining Company (PIOM) has reassured the government and people of Liberia that it remains committed to the implementation of the Mineral Development Agreement (MDA) it signed with government.

The PIOM management stated that although in the last few months its activities were reduced it did not close down its operations, as had been rumored, according to a press release issued yesterday.


Prez. Sirleaf: “Our country’s economic vision will have to shift to agriculture”

Prez. Sirleaf Recommends Economic Vision to Agricultue

President Ellen Johnson Sirleaf in her state of the nation address on Wednesday recommended that the economic vision of the country will increasingly be shifted to agriculture. By doing so, she believes it will ensure that the country moves away from the old system of enclave (commune) extractive industries.


(L) Commerce Minister, Axel Addy and LPRC MD T. Nelson Williams, II

Commerce, LPRC Announce Further Drop in Petroleum Price

The Ministry of Commerce and Industry in consultation with the management of the Liberia Petroleum Refining Company (LPRC), has announced that there will be a further reduction in the pump price of fuel oil or Automotive Gas & Oils (AGO) by US$0.15 cents, while the price of gasoline or Premium Motor Spirit (PMS) remains the same.

In previous retail prices, from February 26 to March 26, wholesale price was USD3.0 and retail was USD3.21 (LD270).

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