"My people, the war is over," Bryant said after taking the oath of office, two months after the flight into exile of disgraced president Charles Taylor, who was at the centre of two wars over the last 14 years.

The new president in turn administered the oath of office to his vice president, Wesley Johnson, at the gold-domed parliament building that dominates the capital Monrovia.

"We have faith in our future and the determination to succeed," said Bryant, 54, who will lead a 21-member government divided out under an August peace pact among Taylor loyalists, rebels, the political opposition and civic groups.

"Liberians will be urged to forgive one another," said the soft-spoken Bryant, who is seen as an independent player in Liberian politics.

"We are not asking anyone to forget."

Dressed in a dark suit, Bryant said in his inauguration address after taking the oath of office before Supreme Court Judge Gloria Scott that his priorities would be disarming combatants from all sides and rebuilding Liberia.

He also said he considered himself to be on a "rescue mission" and would strive to improve the living standards of his countrymen.

From November 1, monopolies on rice, gasoline products and other essential goods will be dismantled, he said.

"This exorbitant cost of living is unacceptable and shall be abolished," Bryant said.

He also vowed to fight corruption, adding: "There will be zero tolerance for corruption in this administration."

And he pledged a commitment to peaceful relations with neighbouring Sierra Leone, Guinea and Ivory Coast.