The Department is charged with the responsibilities for formulating and monitoring the country's economic policies and programs, which have a bearing on internal and external aspects of economic management. It is the principal adviser to GOL on economic policy, and drives the Government’s development agenda - the Pro Poor Agenda for Prosperity and Development. The department deals with all matters relating to debt management including external debt and foreign aid, as well as maintains relations with bilateral and multilateral financial institutions. It is also the nodal department for dealing with the Central Bank and the macro policies. The department deals with matters concerning financial sector policies including banking, insurance and capital markets. In addition, the Department works closely with external organizations, including the IMF, in developing macroeconomic forecasts for the Liberian economy.
The Department has two divisions, namely External Resources and Debt Management Division and Economic Policy, Macroeconomic and Financial Sector Policy Division. Each division, headed by an Assistant Minister, comprises two units, namely, Aid Management and Coordination Unit and Debt Management Unit, all of the former division, and the Economic Policy Unit and Macroeconomic and Financial Sector Policy Unit, all of the latter division.