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Population

Liberia has about 53 million inhabitants (as of 2024). The population is ethnically diverse, with more than 16 different ethnic groups, including the Kpelle, Bassa, Grebo, and Kru. The majority of the population lives in rural areas, but there is increasing urbanization, particularly in the capital Monrovia.

Capital

The capital of Liberia is Monrovia. It is the economic, political, and cultural center of the country and the largest city in Liberia.

Economic Power

Liberia has one of the weakest economies in the world, affected by years of civil war, Ebola epidemics, and other crises. The economy is mainly based on agriculture, mining (iron ore and gold), and timber exports. The GDP per capita is about USD 700 (as of 2023). High unemployment, poverty, and a lack of infrastructure are ongoing challenges.

Culture

Liberia’s culture is shaped by its many ethnic groups, each preserving its own languages, traditions, music, and dances. Masked dances, drum music, and storytelling play important roles in cultural life. Liberian cuisine is diverse, often based on rice, cassava, and fish.

Currency

The official currency of Liberia is the Liberian Dollar (LRD), though the US Dollar is also widely used and accepted as a form of payment.

Health Insurance and Social Security System

Liberia has a limited social security system, mainly covering pensions and work accident insurance. There is no universal health insurance, and access to healthcare is often inadequate, especially in rural areas. Many people rely on private healthcare, which is often expensive.

Costs for Employers

Employers in Liberia must contribute a small percentage of gross wages to social security, primarily covering pensions and work accident insurance. Additional costs may arise from voluntary employer benefits such as transportation or meal allowances.

Salaries and Bonuses

Salaries in Liberia are very low compared to international standards. There is no national legal minimum wage, but sector-specific minimum wages exist. Bonuses are rare and usually only found in larger companies.

Payroll

Payroll in Liberia includes the basic salary, possible allowances, and statutory deductions for taxes and social security contributions.

Public Holidays

Liberia has several public holidays, including:

  • New Year’s Day (January 1)
  • Independence Day (July 26)
  • Labor Day (May 1)
  • Thanksgiving (first Thursday in November)
  • Christmas (December 25)
  • Various religious and national commemoration days.

Working Hours

Regular working hours in Liberia are 40 hours per week, spread over five working days. Most offices operate from Monday to Friday, with Saturday typically being a day off.

Vacation

Employees are entitled to at least 10 to 15 days of paid annual leave, depending on the length of service. Additional leave days may be granted for special occasions such as weddings or family obligations.

Incapacity for Work

In the event of illness, employees are entitled to sick leave. The duration and compensation depend on individual contracts and limited legal provisions.

Termination/Severance Pay

Notice periods and severance pay regulations in Liberia vary depending on the length of service and contractual terms.

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