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Too many problems slow budget process-Prez. Sirleaf

By Ferricks Dainsee
President Ellen Johnson-Sirleaf
President Ellen Johnson-Sirleaf

(mylbsonline.com/Liberia/Oct.19/2013) President Ellen Johnson-Sirleaf says the budget process has been slow, because there are too many problems in the budget to be resolved.

President Johnson-Sirleaf said: “I am therefore working along with the leadership of the National Legislature to resolve these problems.”

According to the President, the money is not going into the banking system as it should be. The Central Bank needs some large amount of money to be able to auction foreign exchange, but it is not forthcoming.

The Liberian Leader said: “The foreign exchange is escalating, because the Central Bank does not have the needed amount of foreign exchange to auction the US dollars, which has resulted to too many people chasing the US Dollars.

“There are also profiteers who continue to beat the exchange rate set by the CBL by heightening their exchange rate above the bank’s rate,” she also said.

The Liberian Chief Executive, however, assured that every effort is being employed to remedy the situation.

Meanwhile, President Johnson-Sirleaf has welcomed the rating of the Ibrahim Index of African Governance Initiative.

The Ibrahim Index of African Governance Initiative recently decorated Liberia as being the biggest in African governance in infrastructure and accountability.

 


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