Editing Liberia (section)

== Economy ==
{{main|Economy of Liberia}}
[[File:Liberia Product Exports (2019).svg|thumb|upright=1.35|A proportional representation of Liberian exports. The shipping related categories reflect Liberia's status as an international [[flag of convenience]]—there are 3,500 vessels registered under Liberia's flag, accounting for 11% of ships worldwide.<ref name="Schoenurl">{{cite web |first=John W.|last=Schoenurl|url=http://www.nbcnews.com/id/3072983|archive-url=https://web.archive.org/web/20201020124056/http://www.nbcnews.com/id/3072983|url-status=dead|archive-date=October 20, 2020|title=Liberian shipping draws scrutiny|work=NBC News|date=August 11, 2003}}</ref><ref name="About the Liberian Registry">{{cite web |url=http://www.liscr.com/liscr/AboutUs/AboutLiberianRegistry/tabid/206/Default.aspx |title=About the Liberian Registry |publisher=Liberian Registry |url-status=dead |archive-url=https://web.archive.org/web/20141110180209/http://www.liscr.com/liscr/AboutUs/AboutLiberianRegistry/tabid/206/Default.aspx |archive-date=November 10, 2014 }}</ref>]]
[[File:GDP per capita development of Liberia.png|thumb|Real GDP per capita development, since 1950]]
The [[Central Bank of Liberia]] is responsible for printing and maintaining the [[Liberian dollar]], Liberia's primary [[currency]] (the [[United States dollar]] is also [[legal tender]] in Liberia).<ref>{{Cite web |title=Currency |url=https://cbl.org.lr/general/currency |website=Central Bank of Liberia |access-date=January 15, 2023 |archive-date=January 15, 2023 |archive-url=https://web.archive.org/web/20230115023814/https://cbl.org.lr/general/currency |url-status=live }}</ref> Liberia is one of the world's poorest countries, with a [[formal employment]] rate of 15%.<ref name=state/> GDP per capita peaked in 1980 at US$496, (~${{Format price|{{Inflation|index=US|value=496|start_year=1980}}}} in {{Inflation/year|US}}) when it was comparable to Egypt's (at the time).<ref>{{cite web |url=http://data.worldbank.org/indicator/NY.GDP.PCAP.CD/countries/LR-EG?display=graph |title=GDP per capita (current US$) &#124;Data &#124;Graph |publisher=Data.worldbank.org |access-date=March 26, 2013 |archive-date=March 4, 2016 |archive-url=https://web.archive.org/web/20160304094021/http://data.worldbank.org/indicator/NY.GDP.PCAP.CD/countries/LR-EG?display=graph |url-status=live }}</ref> In 2011, the country's [[nominal GDP]] was US$1.154 billion, while nominal GDP per capita stood at US$297, the third-lowest in the world.<ref name=IMF_GDP>{{cite web |url=http://www.imf.org/external/pubs/ft/weo/2016/02/weodata/weorept.aspx?pr.x=98&pr.y=20&sy=2014&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=668&s=NGDPD%2CNGDPDPC%2CPPPGDP%2CPPPPC&grp=0&a= |title=Liberia |publisher=International Monetary Fund |access-date=October 23, 2017 |archive-date=June 14, 2021 |archive-url=https://web.archive.org/web/20210614180150/https://www.imf.org/external/pubs/ft/weo/2016/02/weodata/weorept.aspx?pr.x=98&pr.y=20&sy=2014&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=668&s=NGDPD,NGDPDPC,PPPGDP,PPPPC&grp=0&a= |url-status=live }}</ref> Historically the Liberian economy has depended heavily on [[foreign aid]], [[foreign direct investment]] and exports of natural resources such as [[iron ore]], [[rubber]], and [[timber]].<ref name="eowg"/>

=== Trends ===
Following a peak in growth in 1979, the Liberian economy began a steady decline due to economic mismanagement after the 1980 coup.<ref name=challenges>{{cite web|url=http://allafrica.com/stories/201106140356.html|title=The Challenges of Post-War Reconstruction{{snd}}the Liberian Experience|work=Government of Liberia|publisher=allAfrica.com|date=June 13, 2011|access-date=June 21, 2011|archive-date=October 19, 2014|archive-url=https://web.archive.org/web/20141019094038/http://allafrica.com/stories/201106140356.html|url-status=live}}</ref> This decline was accelerated by the outbreak of civil war in 1989; GDP was reduced by an estimated 90% between 1989 and 1995, one of the fastest declines in modern history.<ref name=challenges/> Upon the end of the war in 2003, GDP growth began to accelerate, reaching 9.4% in 2007.<ref name=imf>{{cite web|url=http://www.imf.org/external/pubs/ft/weo/2011/01/weodata/weorept.aspx?pr.x=41&pr.y=12&sy=2000&ey=2016&scsm=1&ssd=1&sort=country&ds=.&br=1&c=668&s=NGDP_RPCH%2CPCPIPCH&grp=0&a=|title=Report for Selected Countries and Subjects: Liberia|work=International Monetary Fund|date=June 20, 2011|access-date=June 21, 2011|archive-date=February 11, 2020|archive-url=https://web.archive.org/web/20200211213732/http://www.imf.org/external/pubs/ft/weo/2011/01/weodata/weorept.aspx?pr.x=41&pr.y=12&sy=2000&ey=2016&scsm=1&ssd=1&sort=country&ds=.&br=1&c=668&s=NGDP_RPCH%2CPCPIPCH&grp=0&a=|url-status=live}}</ref> In 2009, during the [[Great Recession]] GDP growth slowed to 4.6%,<ref name=imf/> though a strengthening agricultural sector led by rubber and timber exports increased growth to 5.1% in 2010 and an expected 7.3% in 2011, making the economy one of the 20 fastest-growing in the world.<ref name=consultation>{{cite web|url=http://www.imf.org/external/pubs/ft/scr/2010/cr10373.pdf|title=IMF Country Report No. 10/37|work=International Monetary Fund|year=2010|access-date=June 21, 2011|archive-date=June 14, 2021|archive-url=https://web.archive.org/web/20210614180151/https://www.imf.org/external/pubs/ft/scr/2010/cr10373.pdf|url-status=live}}</ref><ref name="agi">{{cite web|url=http://www.africagovernance.org/article/liberian-president-government-and-people-are-partners-progress|title=Liberian President: Government and People are Partners in Progress|date=January 27, 2011|work=Africa Governance Initiative|url-status=dead|archive-url=https://web.archive.org/web/20161220103119/http://www.africagovernance.org/article/liberian-president-government-and-people-are-partners-progress|archive-date=December 20, 2016}}</ref>

Current impediments to growth include a small [[domestic market]], lack of adequate infrastructure, high transportation costs, poor trade links with neighboring countries, and the high [[dollarization]] of the economy.<ref name=consultation/> Liberia used the [[United States dollar]] as its currency from 1943 until 1982 and continues to use the U.S. dollar alongside the [[Liberian dollar]].<ref>{{cite web|url=https://docs.google.com/viewer?a=v&q=cache:rjgZxrEkytAJ:www.countrycompass.com/_docs/assessments/Liberia_Economic_Recovery_Assessment.pdf+Liberian+dollar+1982&gl=us&pid=bl&srcid=ADGEESgB5jM-McEY_lEOfi7dtjUAbUY3FHNMS-1b7c1mewxokLnC7PucnxlcZgbC4H60-44s9Kyw4SlVD0s8pI0lznK8MH_FSOPkOAEW8OgbhuDeI2kiEZ81wf4E0kNLQHndpFSE3jFO|title=Liberia Economic Recovery Assessment|work=USAID|date=July 2008|access-date=October 28, 2018|archive-date=April 12, 2019|archive-url=https://web.archive.org/web/20190412091814/https://docs.google.com/viewer?a=v&q=cache:rjgZxrEkytAJ:www.countrycompass.com/_docs/assessments/Liberia_Economic_Recovery_Assessment.pdf+Liberian+dollar+1982&gl=us&pid=bl&srcid=ADGEESgB5jM-McEY_lEOfi7dtjUAbUY3FHNMS-1b7c1mewxokLnC7PucnxlcZgbC4H60-44s9Kyw4SlVD0s8pI0lznK8MH_FSOPkOAEW8OgbhuDeI2kiEZ81wf4E0kNLQHndpFSE3jFO|url-status=live}}</ref>

Following a decrease in [[inflation]] beginning in 2003, inflation spiked in 2008 as a result of worldwide [[2007–2008 world food price crisis|food]] and [[2000s energy crisis|energy crises]],<ref>{{cite web|url=http://mof.gov.lr/doc/Published%20Fiscal%20Outturns.pdf|archive-url=https://web.archive.org/web/20120325223907/http://mof.gov.lr/doc/Published%20Fiscal%20Outturns.pdf|url-status=dead|archive-date=March 25, 2012|title=Quarter Three Fiscal Outturn, Fiscal Year 2010/11|work=Ministry of Finance|date=May 2011}}</ref> reaching 17.5% before declining to 7.4% in 2009.<ref name=imf/> Liberia's [[external debt]] was estimated in 2006 at approximately $4.5 billion, 800% of GDP.<ref name=challenges/> As a result of bilateral, multilateral and commercial debt relief from 2007 to 2010, the country's external debt fell to $222.9 million by 2011.<ref>{{cite web|url=http://mof.gov.lr/doc/2nd%20Qrt%20Debt%20Management%20Report.pdf|title=Second Quarter 2010/2011 Public Debt Management Report|work=Debt Management Unit|publisher=Ministry of Finance|date=March 25, 2011|url-status=dead|archive-url=https://web.archive.org/web/20130910014431/http://mof.gov.lr/doc/2nd%20Qrt%20Debt%20Management%20Report.pdf|archive-date=September 10, 2013}}</ref>

While official commodity exports declined during the 1990s as many investors fled the civil war, Liberia's wartime economy featured the exploitation of the region's diamond wealth.<ref>{{cite news|url=http://news.bbc.co.uk/2/hi/africa/839206.stm|title=Liberia's diamond links|newspaper=BBC News|date=July 18, 2000|access-date=June 21, 2011|archive-date=September 28, 2018|archive-url=https://web.archive.org/web/20180928044310/http://news.bbc.co.uk/2/hi/africa/839206.stm|url-status=live}}</ref> The country acted as a major trader in Sierra Leonian [[blood diamond]]s, exporting over US$300 million (~${{Format price|{{Inflation|index=US-GDP|value=300000000|start_year=1999}}}} in {{Inflation/year|US-GDP}}) in diamonds in 1999.<ref>{{cite news|url=http://www.cbc.ca/news/background/liberia/ |title=CBC News Indepth: Liberia |newspaper=CBC News |date=March 29, 2006 |url-status=dead |archive-url=https://web.archive.org/web/20130908174543/http://www.cbc.ca/news/background/liberia/ |archive-date=September 8, 2013 }}</ref> This led to a [[United Nations]] ban on Liberian diamond exports in 2001, which was lifted in 2007 following Liberia's accession to the [[Kimberley Process Certification Scheme]].<ref>{{cite news|url=https://www.usatoday.com/news/world/2007-05-01-liberia_N.htm|title=Liberia restarts diamond industry|newspaper=USA Today|date=May 1, 2007|access-date=September 3, 2017|archive-date=March 9, 2020|archive-url=https://web.archive.org/web/20200309052935/https://usatoday30.usatoday.com/news/world/2007-05-01-liberia_N.htm|url-status=live}}</ref>

In 2003, additional UN sanctions were placed on Liberian timber exports, which had risen from US$5 million in 1997 to over US$100 million in 2002 and were believed to be funding rebels in Sierra Leone.<ref>{{cite web|url=http://www.greenpeace.org/international/en/news/features/bloody-timber-off-the-market/|title=Bloody timber off the market|work=Greenpeace|date=May 7, 2003|access-date=June 21, 2011|archive-date=July 16, 2017|archive-url=https://web.archive.org/web/20170716103213/http://www.greenpeace.org/international/en/news/features/bloody-timber-off-the-market/|url-status=live}}</ref><ref>{{cite web|first=Gary|last=Strieker|url=https://edition.cnn.com/2002/TECH/science/01/13/liberian.timber/index.html|title=U.N. mulls embargo on Liberian timber|work=CNN|date=January 13, 2002|access-date=June 21, 2011|archive-date=June 14, 2021|archive-url=https://web.archive.org/web/20210614180148/http://edition.cnn.com/2002/TECH/science/01/13/liberian.timber/index.html|url-status=live}}</ref> These sanctions were lifted in 2006.<ref>{{cite web|first=Chenni|last=Xu|url=https://www.voanews.com/a/a-13-2006-06-20-voa64/325269.html|title=UN Lifts Liberia Timber Sanctions|work=Voice of America|date=June 20, 2006|access-date=June 21, 2011|archive-url=https://web.archive.org/web/20120130090304/http://www.voanews.com/english/news/a-13-2006-06-20-voa64.html|archive-date=January 30, 2012|url-status=live}}</ref> Due in large part to foreign aid and investment inflow following the end of the war, Liberia maintains a large [[Current account (balance of payments)|account deficit]], which peaked at nearly 60% in 2008.<ref name=consultation/> Liberia gained observer status with the [[World Trade Organization]] in 2010 and became an official member in 2016.<ref>{{cite web|title=Members and Observers|url=https://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm|access-date=October 15, 2020|website=wto.org|archive-date=June 29, 2011|archive-url=https://web.archive.org/web/20110629193816/http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm|url-status=live}}</ref>

Liberia has the highest ratio of foreign direct investment to GDP in the world, with US$16 billion (~${{Format price|{{Inflation|index=US-GDP|value=16000000000|start_year=2006}}}} in {{Inflation/year|US-GDP}}) in investment since 2006.<ref name=agi/> Following Sirleaf's inauguration in 2006, Liberia signed several multi-billion-dollar concession agreements in the [[iron ore]] and [[palm oil]] industries with numerous [[multinational corporation]]s, including [[ArcelorMittal]], [[BHP]] and [[Sime Darby]].<ref>{{cite web|url=http://allafrica.com/stories/201008271043.html|title=Government Announces Agreement with Chevron to Explore Liberian Waters|publisher=allAfrica.com|date=August 27, 2010|access-date=June 21, 2011|archive-date=October 20, 2012|archive-url=https://web.archive.org/web/20121020040345/http://allafrica.com/stories/201008271043.html|url-status=live}}</ref> Palm oil companies like Sime Darby (Malaysia) and Golden Veroleum (USA) have been accused of destroying livelihoods and displacing local communities, enabled by government concessions.<ref>{{cite web|url=http://www.globalpost.com/dispatches/globalpost-blogs/rights/palm-oil-companys-deal-liberia-sparks-controversy|title=Palm oil industry accused of land grabs in Liberia|work=GlobalPost |publisher=globalpost.com|date=December 27, 2012|access-date=January 8, 2013|archive-date=July 2, 2016|archive-url=https://web.archive.org/web/20160702085839/http://www.globalpost.com/dispatches/globalpost-blogs/rights/palm-oil-companys-deal-liberia-sparks-controversy|url-status=live}}</ref> Since 1926 [[Firestone Tire & Rubber Company|Firestone]] has operated the world's largest [[rubber plantation]] in [[Harbel]], Margibi County. As of 2015, it had more than 8,000 mostly Liberian employees, making it the country's largest private employer.<ref>{{citation |first=Fred |last=van der Kraaij |title=Liberia: From the love of liberty to paradise lost |page=144 |publisher=Leiden, African Studies Centre |date=2015 |url=https://openaccess.leidenuniv.nl/handle/1887/33835 |archive-url=https://web.archive.org/web/20200803074535/https://openaccess.leidenuniv.nl/handle/1887/33835 |archive-date=August 3, 2020 |isbn=978-90-54481447}}</ref><ref>{{cite web|url=http://www.firestonenaturalrubber.com/company_history.htm|title=Firestone and Liberia – Company History|work=Firestone Natural Rubber Company|url-status=dead|archive-url=https://web.archive.org/web/20110612171553/http://www.firestonenaturalrubber.com/company_history.htm|archive-date=June 12, 2011}}</ref>

In September 2024 the International Monetary Fund (IMF) announced that its executive board approved a financial arrangement of approximately $210 million for Liberia. The approval includes an immediate disbursement of around $8 million. This arrangement is aimed at supporting Liberia's economic recovery and addressing fiscal challenges.<ref>{{cite web |url=https://www.reuters.com/world/africa/imf-says-its-board-approved-210-million-arrangement-liberia-2024-09-25/ |title=IMF says its board approved $210 million arrangement for Liberia |work=Reuters |date=September 25, 2024 |access-date=October 2, 2024}}</ref>

=== Shipping flag of convenience ===
Due to its status as a [[flag of convenience]], Liberia has the second-largest [[Flag state|maritime registry]] in the world behind [[Panama]]. It has 3,500 vessels registered under its flag, accounting for 11% of ships worldwide.<ref name="Schoenurl"/><ref name="About the Liberian Registry"/>

=== Major industries ===
==== Agriculture ====
{{Excerpt|Agriculture in Liberia}}Sustenance farming is popular in many areas of Liberia. Communities primarily grow upland rice, cassava, and vegetables, though cane sugar distillation and coal mining provide job opportunity diversification.<ref name=":6" />

Traditional farming systems, such as intercropping and agroforestry, could encourage biodiversity and reduce greenhouse gas emissions. These farming practices are largely used by local or native Liberian farmers. Use of other culturally significant crops such as rice or bitterball have been shown to increase nitrogen fixation in soil, thereby reducing greenhouse gas emissions. These changes have been shown to increase the resilience of food production and alleviate reduction in access to wild foods associated with the loss of forests. However, continued acquisition of land by palm oil and rubber plantations reduces household access to land, food, and water.<ref name=":7" />

Palm oil production is also a large part of Liberian agriculture and is largely controlled by the Malaysian palm oil company, Sime Darby. In 2009, Liberia granted one of its largest concessions to Sime Darby, despite local and international concern over the environmental impacts this could cause. Liberia, which has one of the highest rates of unemployment in the world, was promised employment of roughly 30,000 by Sime Darby for palm oil production. Palm oil production is expected to increase as global demand for palm oil for food and biofuel increases. Rubber production in Liberia is mostly done through plantations and industrial agriculture. These industries can cause deforestation and have been shown to decrease the amount of land owned by locals according to a study done by the Cornell Land Project. They can also decrease local incomes by taking away the ability of locals to hunt for and trade bushmeat or grow crops to sell.<ref name=":6" />

==== Mining ====
Between 1960 and 1980, iron ore mining was the mainstay of the Liberian economy, contributing to more than 60 percent of export earnings. This came after former United States president Harry S. Truman encouraged foreign investment, leading some foreign companies to invest in Liberia’s mining sector. During this time, much of the mining done in Liberia was carried out by alluvial mining of small-scale operations, with estimates of over 100,000 artisanal miners in Liberia. However, with the onset of Liberia’s first civil war, much of the country’s productive infrastructure was destroyed and mining was brought to a virtual halt. The commencement of Liberia’s second civil war aggravated this trend.<ref name=":8">{{Cite journal |last=Enaruvbe |first=G.O. |last2=Keculah |first2=K.M. |last3=Atedhor |first3=G.O. |last4=Osewole |first4=A.O. |date=January 2019 |title=Armed conflict and mining induced land-use transition in northern Nimba County, Liberia |url=https://doi.org/10.1016/j.gecco.2019.e00597 |journal=Global Ecology and Conservation |volume=17 |pages=e00597 |doi=10.1016/j.gecco.2019.e00597 |issn=2351-9894|doi-access=free }}</ref>

After the end of Liberia’s second civil war, there was a sharp post-conflict increase in mining activities, rapid settlement expansion and increasing forest loss. This increased mining activity and associated forest loss threatens biodiversity, increases pressure on available agricultural land, especially land meant for sustenance agriculture, and increases potential exposure of the Liberian population to pollution from mining activities.<ref name=":8" /> Many of these iron and gold ore corporations which are increasingly dominating the Liberian economy are geared to satisfy the needs of the metropolitan economies and not the needs of the Liberian economy. This has led to the formation of economic islands which fail to have any “developing effect” on the economy as a whole. <sup>[237]</sup> Despite the stronger economic linkages artisanal mines have to local communities, investment in industrial mining by foreign companies has increased in post-conflict Liberia due to larger taxes and royalty payments received from industrial mines.<ref name=":9">{{Cite journal |last=Gräser |first=Melanie |date=October 2024 |title=Industrial versus artisanal mining: The effects on local employment in Liberia |url=https://doi.org/10.1016/j.jrurstud.2024.103389 |journal=Journal of Rural Studies |volume=111 |pages=103389 |doi=10.1016/j.jrurstud.2024.103389 |issn=0743-0167|doi-access=free }}</ref>

Liberian mining has also been shown to have negative effects on the Liberian environment. Post conflict mining has contributed to an increase in forest loss and air pollution. Though Liberia does possess environmental management tools such as the Environmental Impact Assessment (EIA) and Environmental Impact Statement (EIS), use of these tools and environmentally protective policy is still lacking. Harnessing of best practices in regards to agriculture and mining and valorizing local knowledge has been shown to be inadequate, meaning pressure on the environment is still heavy. Liberia’s mining industry also impacts food and water availability for many Liberian peoples, impacting household nutrition and income levels.<ref name=":8" />

Mining labor in Liberia has faced criticism from civil society groups and, notably, Joshua Obediah Zaza Arku, Inspector-General of Liberia’s Mines and Energy Ministry'. Aside from long hours and low wages, resistance movements and unions have been squashed by corporate and government entities, leading to outrage of the Liberian working class. On November 23, 1976, workers at the depleted iron ore mines at Bomi Hills went on strike demanding that, prior to the mine’s closing, they should be paid two months wage for each year they worked with the company. News reporters on the scene described random arrests and undue violence towards workers on strike. Many other instances of violence against laborers and the working class in Liberia have been recorded.<sup>[237]</sup> Liberia has seen many protests in its mining sector, mostly over poor working conditions and a perceived apathy towards the Liberian peoples. Some of the protests, such as the March 1, 2024 protest at Kinjor, have resulted in injuries and even deaths of Liberian miners. Protests and resistance continue today over poor working and living conditions.<ref name=":9" />

Gold, diamonds, and iron ore form the core minerals of the mining sector with a new Mineral Development Policy and Mining Code being put in place to attract foreign investments.<ref name=":10" /> In 2013, the mineral sector accounted for 11% of GDP in the country and the [[World Bank]] projected a further increase in the sector by 2017.<ref name=":11" />

'''Telecommunications'''{{Main|Communications in Liberia}}
There are six major newspapers in Liberia, and 65% of the population has a mobile phone service.
Much of Liberia's communications infrastructure was destroyed or plundered during the two civil wars (1989–1996 and 1999–2003).<ref name=reform>{{cite web | url=http://www.ppiaf.org/sites/ppiaf.org/files/publication/PPIAF-Impact-Stories-Reforming-Liberia-Telecom-Sector.pdf | title=PPIAF Supports Telecommunications Reform and Liberalization in Liberia | publisher=Public-Private Infrastructure Facility (PPIAF) | date=July 2011 | access-date=September 3, 2011 | archive-date=March 4, 2016 | archive-url=https://web.archive.org/web/20160304051911/http://www.ppiaf.org/sites/ppiaf.org/files/publication/PPIAF-Impact-Stories-Reforming-Liberia-Telecom-Sector.pdf | url-status=dead }}</ref> With low rates of adult literacy and high poverty rates, television and newspaper use is limited, leaving radio as the predominant means of communicating with the public.<ref>[http://www.audiencescapes.org/country-profiles-liberia-country-overview-quantitative-survey-qualitative-analysis-research "Introduction to Communication and Development in Liberia"] {{Webarchive|url=https://web.archive.org/web/20140307051722/http://www.audiencescapes.org/country-profiles-liberia-country-overview-quantitative-survey-qualitative-analysis-research |date=March 7, 2014 }}, AudienceScapes. Retrieved February 8, 2014.</ref>

==== Transportation ====
[[File:Downtown Monrovia 3348917715 67a2002529.jpg|thumb|upright=1.35|The streets of downtown [[Monrovia]], March 2009]]{{Excerpt|Transportation in Liberia}}

==== Energy ====
{{Further|Energy in Liberia}}
Public electricity services are provided solely by the state-owned Liberia Electricity Corporation, which operates a small grid almost exclusively in the [[Greater Monrovia District]].<ref name="Options">{{cite web|url=http://siteresources.worldbank.org/EXTAFRREGTOPENERGY/Resources/717305-1266613906108/Liberia_Energy_ESW_11-4-11web.pdf|title=Options for the Development of Liberia's Energy Sector|work=International Bank for Reconstruction and Development|publisher=World Bank Group|date=2011|access-date=June 9, 2014|archive-date=January 8, 2023|archive-url=https://web.archive.org/web/20230108191259/http://siteresources.worldbank.org/EXTAFRREGTOPENERGY/Resources/717305-1266613906108/Liberia_Energy_ESW_11-4-11web.pdf|url-status=live}}</ref> The vast majority of electric energy services is provided by small, privately owned [[Engine-generator|generators]]. At $0.54 per kWh, the cost of electricity in Liberia is among the highest in the world. Total capacity in 2013 was 20 MW, a sharp decline from a peak of 191 MW in 1989 before the wars.<ref name="Options"/>

The repair and expansion of the [[Mount Coffee Hydropower Project]], with a maximum capacity of 80 MW, was completed in 2018.<ref>{{cite news | first = Clair | last = MacDougall | title=Liberia: Stepping Back Into The Light? | newspaper=ThinkPressAfrica|date=July 18, 2012}}</ref> Construction of three new [[heavy fuel oil]] power plants is expected to boost electrical capacity by 38 MW.<ref>{{cite news|url=http://allafrica.com/stories/201311280681.html|title=Liberia: Massive Electrification Boost|newspaper=allAfrica.com|date=November 27, 2013|access-date=June 9, 2014|archive-date=January 8, 2023|archive-url=https://web.archive.org/web/20230108192806/https://allafrica.com/stories/201311280681.html|url-status=live}}</ref> In 2013, Liberia began importing power from neighboring Ivory Coast and Guinea through the [[West African Power Pool]].<ref>{{cite news |first=Joe |last=Teh |url=http://cmiliberia.org/blog/2013/07/30/behind-the-power-switch-in-nimba-an-optimism-for-vibtant-economy/ |archive-url=https://archive.today/20140609061323/http://cmiliberia.org/blog/2013/07/30/behind-the-power-switch-in-nimba-an-optimism-for-vibtant-economy/ |url-status=dead |archive-date=June 9, 2014 |title=Behind The Power Switch in Nimba, An optimism for Vibrant Economy |newspaper=The News Pinnacle |date=July 30, 2013 }}</ref>

Liberia has begun exploration for offshore oil; unproven oil reserves may be in excess of one billion barrels.<ref>{{cite news |url=https://af.reuters.com/article/southAfricaNews/idAFWEA839820091103 |archive-url=https://web.archive.org/web/20120120101525/http://af.reuters.com/article/southAfricaNews/idAFWEA839820091103 |url-status=dead |archive-date=January 20, 2012 |title=Liberia may have over 1 bln barrels in oil resources |newspaper=Reuters Africa|date=November 3, 2009}}</ref> The government divided its offshore waters into 17 blocks and began auctioning off exploration licenses for the blocks in 2004, with further auctions in 2007 and 2009.<ref>{{cite web|url=http://www.businesswire.com/news/home/20040202005192/en/NOCAL-2004-Liberia-Offshore-Bid-Announcement|title=NOCAL 2004 Liberia Offshore Bid Round Announcement|work=Business Wire|date=February 2, 2004|access-date=June 21, 2011|archive-date=April 20, 2021|archive-url=https://web.archive.org/web/20210420231133/https://www.businesswire.com/news/home/20040202005192/en/NOCAL-2004-Liberia-Offshore-Bid-Announcement|url-status=live}}</ref><ref name=bidding>{{cite web|first=Natalie Obiko|last=Pearson|url=http://www.rigzone.com/news/article.asp?a_id=53828|title=Liberia Opens Bidding for 10 Offshore Oil Blocks|work=RigZone|date=December 10, 2007|access-date=June 21, 2011|archive-date=March 30, 2016|archive-url=https://web.archive.org/web/20160330155653/http://www.rigzone.com/news/article.asp?a_id=53828|url-status=live}}</ref><ref name=":10">{{cite web|url=https://www.psg.deloitte.com/NewsLicensingRounds_LR_0909.asp|title=Third Liberian Offshore Petroleum Licensing Round 2009|work=Deloitte Petroleum Services|publisher=Deloitte|date=August 27, 2009|url-status=dead|archive-url=https://web.archive.org/web/20131104072748/https://www.psg.deloitte.com/NewsLicensingRounds_LR_0909.asp|archive-date=November 4, 2013}}</ref> An additional 13 ultra-deep offshore blocks were demarcated in 2011 and planned for auction.<ref name=":11">{{cite web |first=Alphonso |last=Toweh |url=https://af.reuters.com/article/topNews/idAFJOE76K01J20110721?sp=true |archive-url=https://web.archive.org/web/20120119002810/http://af.reuters.com/article/topNews/idAFJOE76K01J20110721?sp=true |url-status=dead |archive-date=January 19, 2012 |title=Liberia marks out new oil blocks, auction seen soon |work=Reuters |date=July 21, 2011 |access-date=August 22, 2011}}</ref> Among the companies to have won licenses are [[Repsol YPF]], [[Chevron Corporation]], and [[Woodside Petroleum]].<ref>{{cite web |first=Ansu |last=Konneh |url=https://www.bloomberg.com/news/2010-08-30/chevron-liberia-sign-deepwater-offshore-exploration-agreement.html |title=Chevron, Liberia Sign Deepwater Offshore Exploration Agreement |work=[[Bloomberg News]] |date=August 30, 2010 |access-date=March 8, 2017 |archive-date=September 9, 2013 |archive-url=https://web.archive.org/web/20130909022554/http://www.bloomberg.com/news/2010-08-30/chevron-liberia-sign-deepwater-offshore-exploration-agreement.html |url-status=live }}</ref>