In the wake of recent revelation of the alleged disappearance of billions of newly printed Liberian Banknotes, Grand Bassa County Senator, Jonathan L. Kaipay, is commending the President George Weah for taking immediate steps in probing “this extremely embarrassing economic situation.”
But while we acknowledge and appreciate the initial approach by President Weah to unearth the truth of this mysterious financial saga, we also call on the President to go an extra mile by soliciting the expertise of a credible independent body to conduct a forensic audit to ensure best practices,” Senator Kaipay urged in a press statement.
The Liberty Party Senator further commended President Weah for appealing to the United States Government and the International Monetary Fund (IMF) to send in the FBI and financial experts to conduct an independent investigation into the matter.
“The CDC–led Government, which is party to the prevailing financial impropriety, must not conduct its own audit because, to do so, will create crises of credibility and transparency,” Senator Kaipay maintained.
The Grand Bassa County Lawmaker made the statement in a phone call to his Capitol Hill Office in Monrovia from the United States where he is attending the 28th National Convention of the United Bassa Organizations in the Americas (UNIBOA).
Meanwhile, Senator Kaipay has expressed support for calls by his colleagues at the Legislature for an Emergency Session to assist in solving the mystery of the missing billions, since he asserted, it is the Legislature that authorizes the printing of the country’s currency and which, according to the former Central Bank Executive Governor, Mr. Milton Weeks authorized the printing of the huge amount in question.
It may be recalled that on the eve of the end of the regime of President Ellen Johnson Sirleaf, Senator Kaipay wrote plenary of the Liberian Senate requesting that body to cite the Minster of Finance and Development Planning to provide “pertinent information on the status of the country’s economy and development program as the government of President Sirleaf leaves office in January.”
Senator Kaipay in his communication specifically requested the government through then Minister of Finance to provide the Senate “with an accurate account of the country’s debt portfolio, (grant and loans) since the ascendency of President Sirleaf from 2006-2017. “The information must also include all programs for which the funds were negotiated and received and how much was achieved with the expanded amounts.”
Of equal importance, the Senator’s communication continued, “is the name of the institutions that awarded those grants and loans and the tenure thereof. ”
The Grand Bassa County lawmaker who chairs the Senate Committee on Autonomous Commissions and Agencies, maintained that the information would enable the Legislature and the incoming government to have a sense of how to “restructure our economy in order to minimize the country’s debt burden and focus more on sustainable growth and development. ”
The communication was voted upon and sent to the Committee on Ways, Means & Finance and requested to report to plenary in two weeks.