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The Economy (69)
The National Port Authority (NPA) and Western Cluster Limited (WCL) have signed a port lease and operating agreement for iron ore operations at the Freeport of Monrovia.
The Central Bank of Liberia (CBL) has announced that it auctioned US$24.2 million to businesses and to stabilize the foreign exchange market during the 2nd quarter of 2012.
The Government of Liberia’s plans to attract a new investor to revamp the Ducor Palace Hotel in Monrovia have suffered a major setback as the Libyan Holding Company enjoys ownership of the property.
Poor quality of assets exhibited by a number of banks is posing a serious challenge to the productivity of the banking industry in Liberia, the Central Bank of Liberia (CBL) has warned.
Banking is a financial transaction that allows an institution to receive and loan out money for profitability.
The government of Liberia’s domestic debt stock has suffered a major setback during the second quarter, experiencing an increase of about 7.2 percent, from US$276.4 million to US$296.4 million.
The African Development Bank (AfDB) group has inaugurated its Liberia office to monitor its operations in the country. The office is located in Sophie, Oldest Congo Town. AfDB president Dr. Donald Kaberuka, who was in the country on a two-day state visit from September 18-19, officially opened the office on 19th September.
The African Development Bank (AfDB) has agreed to give US$4.6 million grant money to the government of Liberia to strengthen the country’s public financial management system, the Daily Observer has learnt.
Many Liberians may consider the enclave extractive sector of their economy as the greatest source of jobs creation. Their expectations even heighten when they hear that foreign companies are investing billions of U.S. Dollars in Liberia and signing Mineral Development Agreements (MDAs) with the government to mine iron ore, gold and diamond. However, some may not be aware of resources such as iron ore, gold and diamond are exhaustible.
The Government of Liberia (GOL) will be spending over US$53 million on made-in-Liberia furniture and fixtures produced directly by Liberian-owned businesses in fiscal year 2012/13, Minister of Finance Amara Mohammed Konneh has disclosed in Monrovia.
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