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Liberia
Summary
- The report expands on EITI's current sector coverage to include information on renewable natural resources--forestry and agriculture--as well as non-renewable resources.
- The templates are tailored for each sector and the report provides disaggregated data for individual revenue streams, sectors and companies.
- The report includes reconciled data on community payments and receipts, and information on payments made to the University of Liberia. The report also mentions which government agency receives which revenue stream.
- The Ministry of Finance receives 90% of resource revenues but was the most unresponsive during the reconciliation process. Overall coordination between all government agencies appears low. Meeting the EITI requirement for audited government data is therefore a priority.
- SOE data is included, although financial and in-kind transactions with other companies and the treasury are not fully explained.
Data Year
2008-09
Publication Year
2010
EITI Status
Compliant
Compliant
Report Compiled by Moore Stephens
EITI report Download PDF
Source leiti.org.lr
Government Receipts
$35,425,230.00
Company Payments
$35,280,235.00
GDP, FY 2009
BILLION US$
source
0.88
Total Government Revenue (% of GDP)
29.91
Reported EI Revenue (% of Total Revenue)
13.47
Report Quality Indicators | ||
1. Regularity | ||
| a) score | 0.50 | |
| b) total reports / implementing years | 2/4 | |
2. Timeliness | ||
| Lag between fiscal year of data and publication year. | 1 | |
3. Materiality | ||
| Report clearly defines a materiality threshold. | Yes | Only revenues collected by the five largest government agencies are included. |
4. Data Reliability | ||
| Report contains audited data from: | ||
| a) companies | No | 38/65 companies provided audited data. |
| b) government | Yes | |
5. Coverage | ||
| Revenue data includes the following revenue streams: | ||
| a) royalties | Yes | |
| b) taxes | Yes | |
| c) surface, rental or license fees | Yes | |
| d) bonuses | Yes | |
| e) state-owned enterprise (SOE) payments | Yes | |
| f) Report covers all extractive sector companies. | No | 65/72 reported (Agriculture: 9/9; Forestry:17/:20; Mining: 34/38; Oil: 5/5). |
| g) Report states the price of any product received or sold by government. | No | |
| h) Report states the quantity of resources produced. | No | |
6. Discrepancies | ||
| Report contains: | ||
| a) information on the cause of revenue discrepancies. | Yes | |
| b) reconciled data following the correction of discrepancies. | Yes | |
7. SOE Revenue Flow | ||
| SOE Revenue Flow data is clearly explained in the report. | No | Liberia provides some data on financial flows to and from the SOE, but does explain the contractual relationship between SOE and government or private companies. |
8. Disaggregation | ||
| Report provides financial data on individual: | ||
| a) companies | Yes | |
| b) revenue streams | Yes | |
| c) projects | No | |
| d) commodities | No | |
9. Comprehensibility | ||
| Report contains: | ||
| a) a summary with key findings and revenue totals | Yes | |
| b) clear indication of what currencies and units of measurement are used | Yes | |
| c) written explanation of key findings and recommendations | Yes | |
| d) a clear definition of terms | Yes | |
10. Accessibility | ||
| Report is available: | ||
| a) in at least one official language | Yes | |
| b) on a government website | Yes | |
Related Indicators | ||
| Revenue Watch Index, 2010 | 60.5 | |
| Corruption Perception Index, 2010 | 87/178 | |
| Open Budget Survey, 2010 | 40 | |
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