Credit: Lincoln G. Peters
Monrovia, Liberia—Madam Antoinette Monsio Sayeh, former Finance Minister of Liberia and former Deputy Managing Director of the International Monetary Fund (IMF), has stressed that African nations and finance ministers must oppose agreements that conflict with their national strategy and economic agenda. Directory of Liberian businesses On Thursday, May 21, 2026, Madam Sayeh gave a speech at the 22nd Governing Board Meeting of the African Organization of English-Speaking Supreme Audit Institutions (AFROSAI-E). The topic of her presentation was Auditing Public Debt to Strengthen Accountability and Fiscal Sustainability.
P.Garswa Jackson, Auditor General of Liberia, stressed after her speech that governments must monitor checklists; manage, inspect, and monitor the debt stock to ensure that it doesn’t exceed GDP or GDP per capita limitations. He questioned, “How do developing nations like Liberia manage the different alluring debt portfolios offered by development partners while maintaining effective debt management strategies?”
In response, Madam Sayeh described the issue as a recurring barrier for countries seeking rapid development effects and in severe need of funds. “It is the responsibility of the Minister of Finance and their team to resist what does not align with their national strategy and to pursue alternative financing for development,” she stated. “Resisting donors requires conviction and steadfastness. Leaders must be prepared to explain their decisions to the population and remain accountable.”
She stressed the need for mobilizing domestic resources and emphasized that development partners should only be approached to cover real financing gaps. Madam Sayeh cautioned that governments run the risk of getting seduced by donor offers that might not coincide with their established development strategies if they do not adequately utilize local revenue sources. She emphasized that national governments should focus on increasing their own resources and work to gradually reduce their reliance on outside donors. Recent shocks, such as decreased aid, she pointed out, highlight the need for better mobilization of domestic resources and closer examination of public spending.
“Development partners sometimes have their own incentives, which can lead to aggressive promotion of certain projects. While partners are essential, especially in times of crisis, countries must avoid becoming reliant on frequent external interventions,” Madam Sayeh concluded.
From May 18–22, 2026, Liberia’s General Auditing Commission (GAC), led by Auditor General P. Garswa Jackson, Sr., hosted the esteemed Annual Governing Board Meeting of AFROSAI-E in Monrovia. In order to improve the institutional capability of Supreme Audit Institutions (SAIs) in English-speaking Africa, 26 African nations founded AFROSAI-E. In order to improve public financial management and improve the lives of citizens, it encourages auditing standards, SAI independence, and accountability.
Every year, AFROSAI-E organizes the conference to meet legal obligations, assess the 2025–2029 Strategic Plan’s progress, and promote accountability. These gatherings guarantee that member SAIs improve peer-to-peer support and institutional capacity.
