But we have to do more. We want to raise our national minimum wage, which is one of the lowest among OECD countries as a percentage of median wage. By fixing our broken immigration system, we could add $ trillion (€ trillion) in GDP over the next two decades. And by upgrading our infrastructure, we can create good jobs while facilitating the flow of commerce domestically and internationally. All of this requires legislative action, and we are hopeful the US Congress will work with the Obama administration on these initiatives that will accelerate the pace of growth.
IFC investments and advisory services in Liberia will be targeted to achieve private sector development. As of December 2016, IFC investment in Liberia comprised: (i) $ million financing in four Liberian banks under the Ebola Emergency Liquidity Facility (EELF) and Global Trade Facility; (ii) $ million in agriculture financing in the rubber and cocoa sectors; (iii) $ million in the mining sector; (iv) and $13 million (out of $ million) seed investment in the West Africa Venture Fund (WAVF) for private equity investment to small and medium enterprises (SMEs).
"These figures are excellent news……The labour market is proving far more resilient than the rest of the economy.
"The only people not sharing in this good news are young people looking for work. The government must prioritise tackling long-term youth unemployment before any more careers are wrecked before they barely get off the ground.
"And while more people are in work, they are still getting poorer in real terms as wages grow at less than half the rate of inflation. Jobs growth needs to be accompanied by stronger wage growth if consumer spending is to help drive our economic recovery."