Liberia Carelessly Lost $1.5 Billion—Now Borrowing from the IMF?

 


ArcelorMittal’s calculated financial evasion is more than a breach of transparency; a gross violation of Liberia’s Mineral Development Agreement (MDA); and a direct denial of the nation’s rightful share. By refusing to declare its full $5 billion profit, AML has withheld approximately $1.5 billion owed to Liberia. This is not partnership. It is corporate dishonesty at scale and unethical conduct that erodes public trust, distorts national development, exploits vulnerable communities, and compromises the integrity of our institutions.

How does a sovereign nation forfeit $1.5 billion in lawful profit, then turn to the International Monetary Fund for loans? These loans come with strict conditions including budget cuts, subsidy removals, and austerity measures that disproportionately harm the poor. Liberia is now borrowing what it should already own. This contradiction which reveals a system where silence enables exploitation and where the cost of inaction is borne by the most vulnerable.

This crisis is undeniably the result of institutional failure. The Inter-Ministerial Committee on Concessions failed to enforce transparency and accountability. The Legislature failed to provide adequate oversight. Together, these lapses created the conditions for AML’s evasion and Liberia’s loss. The damage is financial, reputational, structural, and generational.

The legacy of neglect and evasion must end here. We call for bold, uncompromising reforms—rooted in transparency, justice, and national dignity. Liberia must no longer negotiate from a position of silence. It must confront corporate deception with clarity, demand restitution with courage, and rebuild its institutions with integrity.

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