Economic Management Team, Senate Meet Behind Closed Door

1
691
Finance Minister Samuel Tweah and CBL Deputy Governor Charles Sirleaf at the Senate yesterday

After several deferments, the Senate and President George Weah’s Economic Management Team yesterday held discussions behind closed doors in the Chamber of the Senate on Capitol Hill.

The Senators and their guests, which included Finance and Development Planning Minister Samuel Tweah, Central Bank of Liberia (CBL) Acting Executive Governor Charles Sirleaf, Commerce Minister Wilson Tarpeh, and others from the Liberia Revenue Authority (LRA), emerged from hours of meeting in a joyous mood; but as it is in keeping with the Senate’s tradition, nothing was officially disclosed to the media.

However, in a brief chat, Minister Tweah confirmed that indeed the US$25 million, which President Weah spoke of in a nationwide address on Monday, would be infused into the local market to ease the unprecedented way in which the Liberian dollar was depreciating.

Minister Tweah reaffirmed President Weah’s promise to revitalize the economy through the encouragement of local entrepreneurs, but like the President, Tweah emphasized that the solution is not going to be immediate.

The meeting on Capitol Hill came less than 24-hours, following President Weah’s first address to the nation, with emphasis on the state of the economy. It also coincides with the well publicized meeting between members of local foreign exchange bureaus and the CBL authorities.

1 COMMENT

  1. I am not sure if the process of economy revitalization had started in Liberia. What I read is too far from the reality. I am not against putting 25million into a consumer based economy. My feared is by infusing $25 Million into consumer based economy can be a dangerous precedent. The fund might sooner or later evaporate into thin air (oversea purchase of goods or remittances). Liberia financial experts need to put into place robust measure such as financing local production of goods and services and strengthen the credit market.

LEAVE A REPLY

Please enter your comment!
Please enter your name here