Published: October 17, 2025
MONROVIA – The General Auditing Commission (GAC) has rejected nearly 88 percent of domestic debt claims filed against the Government of Liberia, citing widespread irregularities, missing documentation, and unsupported payment requests in its just-released Domestic Debt Audit Report. The findings could save the country more than US$704 million, according to the audit.
The report, which covered claims submitted by individuals, contractors, financial institutions, and service providers, paints a troubling picture of Liberia’s domestic debt system — one riddled with inflated and unverified obligations.
According to the GAC, a total of 784 claims amounting to US$770.8 million and L$5.05 billion were submitted for verification. After months of scrutiny, only 342 claims — valued at US$92.1 million and L$259.4 million — were validated as legitimate.
That means 88.05 percent of U.S. dollar claims and 94.87 percent of Liberian dollar claims were invalidated or rejected, primarily due to the absence of supporting evidence or inconsistencies in the documentation submitted.
The largest irregularities were found in claims classified as loan instruments from the Central Bank of Liberia (CBL), commercial banks, and other financial entities. Out of US$394.8 million in claims under that category, only US$18.3 million was confirmed valid, while US$376.5 million was rejected.
Similarly, in the works category, just US$16.2 million of US$232.7 million in claims were verified. The goods and services segment saw US$24.8 million validated out of US$41.1 million claimed.
The GAC attributed the rejections to missing supporting documents, non-compliance with procurement procedures, and weak debt recordkeeping across key ministries and agencies.
“The audit report has proffered practical recommendations that, when implemented, should improve domestic debt processing, recording, reporting, and overall transparency and accountability,” the GAC said in its statement.
The audit followed a public notice on November 26, 2024, inviting all potential claimants to submit documentary evidence for review. The GAC said the process was designed to ensure fairness, transparency, and accountability in verifying legitimate domestic debt obligations.
The report also addressed concerns over Liberia’s rising debt-to-GDP ratio and urged policymakers to strengthen the statute of limitation on domestic debt claims to prevent outdated or fraudulent submissions.
If fully acted upon, the GAC’s recommendations could allow the government to save over US$704 million — funds that can be redirected to national priorities such as infrastructure, health, and education.
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