MONROVIA, LIBERIA-The General Auditing Commission (GAC) has put Liberia’s current domestic debt at 92.1 million United States Dollars and 259 million Liberian Dollars.

 It followed a domestic debt audit conducted by the GAC, covering the period from January 1, 1980, to December 31, 2024.

In an interview on ELBC’s “Super Morning Show” on Monday, October 20, 2025, the Auditor General of the GAC, Garswa Jackson, said,” The domestic debt balances constitute about eleven percent of qualified claims”.

Auditor General Jackson stated that those claims were qualified because individuals and businesses provided sufficient documentation to support their cases against the Government of Liberia.

Meanwhile, Jackson is urging the Executive, through the Ministry of Finance and the Judiciary, not to disregard the merits of the audit report.

At the same time, the Auditor General has made several key recommendations aimed at improving domestic debt processing, recording, reporting, and overall transparency and accountability.

According to Jackson, the GAC recommended that the statute of limitations should be at least seven years for individuals and businesses to file their claims.

He also proposed that all domestic debt claims emanating from government ministries and agencies be budgeted before they are subjected to validation.

The Auditor General also recommended automated domestic debt reconciliation between the domestic debt database and the Integrated Financial Management Information System (IFMIS).

The goal, according to the Auditor General, is to ensure payments are consistent with approved debt stock.

Meanwhile, the Co-Chair of the Public Accounts Committee, Senator Gbehzohngar Findley, has lauded the General Auditing Commission for conducting an audit of the country’s domestic debt portfolio.