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President Weah to infuse US 25million, takes step to stabilize national economy

Victor Kezelee/Lucia Dohr/Varvley Kamara
President George Manneh Weah, finding solution on the economy
President George Manneh Weah, finding solution on the economy

MONROVIA, LIBERIA -The Liberian government says it will quickly infuse   twenty-five Million US Dollars into the country’s economy to help address economic issues confronting the citizens.

President George Manneh Weah said: “The idea will assist in making up for the excess liquidity being experienced as the Liberian Dollar falls to the US Dollar on the local market”.

President Weah, made the pronouncement Monday, July 16, 2018 during a nationwide address on the Liberian economy.

The Liberian leader said: “The decision is part of ongoing efforts aimed at aggressively enforcing Liberia’s monetary policies to help address the current economic crisis in the country. Government is cognizant of the current economic situation and that the factors of demand are beyond Government’s control”.

He said since 2016, the Liberian Dollar has been on a persistent depreciating term with an increased inflation by 4 percent since January 2018.

According to him government was finding lasting solution to the micro-economic situation of the country but will take some time, as the country imports more than it is exporting.

President Weah urged Liberians refrain from blame-casting regarding the current state of the economy, “now is the time to deal with existing ramifications with concerted efforts and not to engage in blame game”.

“The focus of my government is not to cast blames on previous administrations, but to find sustainable and workable solutions to the country’s current problems”.

The Liberian leader, underscore that the current economic situation is an aged-old problem that defied solutions in the past and that it is not surprising the current systemic problems confronting the economy and promised to tackle them head-on.

 


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