To help prepare Liberia’s poverty reduction strategy, a CWIQ (Core Welfare Indicator Questionnaire) household survey was conducted by the Liberia Institute of Statistics and Geo-Informational Services. This article is based on an analysis of this survey to estimate the level of poverty and vulnerability in the country, provide a profile of poverty, and analyze the correlates of consumption and poverty at the household level. It is estimated that slightly less than two-thirds of the population (63.8 percent) are living in poverty. If the growth trend observed recently were to continue, poverty could be reduced significantly by 2015. In terms of the profile and correlates of poverty, as might be expected, consumption levels and the probability of being poor vary significantly according to households characteristics such as geographical location, the level of education and the employment of the household head or the spouse, and the size of the household.