Liberia is a low income country heavily reliant on internaƟ onal assistance for revenue and human resources because of many years of civil war, which resulted in economic collapse and infrastructural dilapidaƟ on. The country ranks 174 out of 187 in the UNDP 2012 Human Development Index. Gross naƟ onal income per capita is US$480 and the
naƟ onal poverty headcount raƟ o is 83.9 % (UNDP HDI, 2011). Improved security and the period of recovery
ushered in by the 2003 peace agreements have supported economic growth rates averaging 6% a year from 2004 – 2011. This growth was driven by iron ore and rubber exports as well as increased Ɵ mber producƟ on. Infl aƟ on, which fell to 7.5% in 2010 due to lower fuel and food prices, rose sharply to 8.5% in 2013 (IMF, 2013).