MONROVIA, LIBERIA-Finance Minister Samuel Tweah has attributed the International Monetary Fund’s (IMF) loan to Liberia to the concerted efforts by the Liberian Government.
According to Minister Tweah, Macro-economic is fundamental and outlook on growth are positive for the New Year.
The IMF has already approved 48.8 Million United States Dollar loan to Liberia, with 38 Million of the amount to fill the financial gap created by COVID-19.
Speaking with ELBC on Monday, December 28, 2020, Minister dispelled allegation of wasteful spending in the Weah-led Government, and maintained that the results of all fiscal reforms are embodiment of Government’s projects.
Finance Minister maintained that the Liberian Government is able is able to carry out development initiatives; because it has saved enough resources to ensure those initiatives are possible.
At the same time the Finance Minister is urging the National Legislature to approve the printing of new bank notes, when the lawmakers return in 2021.
He attributed the shortage of Liberian Dollars in the banks to people not saving with the various financial institutions, due to confidence issue.
Minister Tweah said:” Many Liberians don’t have trust in the banks, for fear of not receiving their money at the time they need it.”
The Finance Minister also attributed the confidence crisis in the banking sector to the publicity of monetary policy.