The continued low global commodity prices and post-Ebola decline in official inflows have created significant challenges for Liberian economy. Gross domestic product (GDP) growth over the past three years (2014-2016) has been flat (an average zero percent per annum ), arising mainly from the from the sharp decline in commodity prices and the consequent decline in exports of iron ore and rubber sectors, which had hitherto been the main drivers of economic growth. There has been a reduction in inflationary pressures in 2015, due to rising domestic food prices and fast depreciation of the local currency against the US dollar. The average inflation rate increased to 8.7 % in 2016 compared to 7.7% in 2015.The current account deficit marginally declined to 31.5% to 2016 compared 32.5% in 2015, reflecting a slowdown in economic activities and the decline in foreign private inflows.
In 2017, economic growth is expected to rise to 3.2%, mainly due to a rebound in services and the start of gold production, while inflation is expected remain in the single digit range. Liberia is currently struggling to implement its post-Ebola economic recovery plans, given the multiple challenges the country has to grapple with simultaneously, in FY2016/2017, including the need to continue with infrastructural development, taking responsibility for national security following the UNMIL drawdown and the financing of the upcoming general elections. Over the medium term, economic growth is expected to increase to 5.0% on average, due to a recovery in mining, improvements in infrastructure, particularly energy and roads, and higher agricultural productivity. The fiscal position should also improve thanks to the authorities’ commitment to improving domestic revenue mobilization and contain spending. Resolution of the backlog of non-performing loans and improving bank profitability could support economic growth through increased credit, especially for small- and medium-size enterprises (SMEs).
Note: If the selected candidate is a current Bank Group staff member with a Regular or Open-Ended appointment, s/he will retain his/her Regular or Open-Ended appointment. All others will be offered a 3 year term appointment.
|Duties and Accountabilities:|
The Operations Officer (OO) position is based in Monrovia, Liberia with primary responsibility for supporting the Country Manager, Country Director and Country Program Coordinator (CPC) with respect to the management of the existing portfolio, including a substantial trust fund portfolio, and ensuring its strategic alignment with the CPF objectives.
The OO supports the CM, CD, CPC and the Program Leaders to conduct country-specific portfolio monitoring and reporting on the existing lending and TF portfolio, and to identify and resolve country-specific implementation issues. The OO maintains up-to-date information on portfolio performance (IDA, IBRD, and trust funds) for Liberia in close collaboration with the CPC based in Washington. The OO is a member of the CMU Management Team that includes senior staff, which meets frequently to share information and resolve all relevant operational and administrative issues in the country office.
Specific duties include:Coordinates and leads the quality control of the preparation of a Monthly Portfolio Report. The report monitors lending, non-lending activities, TF, and other key portfolio performance indicators. The report is shared with the government and the Country Team. Monitors and facilitates timely delivery on various milestones during the project cycle, including with respect to project closing and reporting. Supports the implementation Support Team (comprising of FM, Procurement and safeguards specialists) by organizing its regular meetings with project TTLs and program leaders to discuss and find solutions to the ongoing issues and to anticipate potential future problems/bottlenecks. Follow-up with government on recommendations in close consultation with the CM, CD, CPC, and Program Leaders. Follow up on the Portfolio Action Plan as formulated in the Country Portfolio Performance Reviews (CPPR), with special focus on portfolio-wide actions in the areas of FM, procurement, safeguards, and M&E. Prepare theperiodic meetings with TTLs, PL and PM as needed. Review, and draft comments on Implementation Status Reports for the CM Provides inputs to or prepares diverse operational products/outputs (e.g. country briefings, background reports, case studies, portfolio performance reviews, etc.). Provide continuous case-by-case support to teams and the Implementation Support Team. Interact directly with the Program Leaders on daily work program issues, and provides operational support for problem or risky operations. To the extent possible, participate in operational missions and meetings and assist teams in resolution of difficult issues. The OO works closely and mentor junior/ACS staff on issues of portfolio management and monitoring. The OO will provide support to the management team in conducting portfolio reviews Review, comment on, and clear all out-going correspondence; manage in-coming correspondence. Support the CD and CPC in preparation and implementation of the Country Partnership Framework and provide assistance in preparing CPF Progress and Learning Report and Completion Report, particularly regarding portfolio implementation.
This vacancy is archived.
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