Is CBL Reserve Empty?
-Who Really is Telling the Truth
Since coming to power on January 22, 2017, one of President George Weah’s herculean challenges had been to grapple with conflicting rumors over what the Coalition for Democratic Change (CDC) led government actually met in the coffers or cupboard of the Central bank of Liberia (CBL).
According to our investigative reporter, the former Governor of the CBL, the custodian of the nation’s money, now the leader of the Movement for Economic Empowerment (MOVEE) is quoted to have alleged that when he was appointed as Bank Governor at the beginning of the mandate of the Sirleaf led Unity Party (UP) government, he met no more than USD$5 million, and that due to his ingenuity as a professional banker he parted the Bank leaving over USD$500 million. He also boasted that he made a reasonable management of the foreign exchange rate, especially the US dollar par the falling Liberian dollar on the parallel market.
It was never disclosed what Madam Sirleaf’s UP led administration left in the reserves of the CBL to be used by the George Weah regime for services including salary and procurement expenditure.
According to a recent clarification made by the Press Secretary to former President Sirleaf Mr. Jerolimnik Piah, he said that the outgoing administration left a reasonable amount of money in the cupboard of the Bank to be inherited by the incoming George Weah administration.
One concerned citizen interviewed by this paper to shed light on this controversy who demanded anonymity, and who said he resides at the New Georgia Estate said the government is indicating that they left a hundred and fifty million U.S dollars as a reserve on the bank, he said.
He added: ”I cannot understand why President Weah’s incoming government is finding it difficult to pay the salary of civil servants, when in fact before leaving office, the UP regime had reduced the number of civil servants and work force in the public sector considerably, and had placed a moratorium on new employment”.
The point is that if such a colossal amount was left in the central bank’s reserve, why is it that no official of government has emerged to clarify the truth to the Liberian public?
Why is the Central Bank Governor Mr. J. Milton Weeks and the Finance Minister Mr. Samuel Tweah silent on enlightening the public on the facts of what really is in the CBL vault? Surely the public have a right to know.
Reports are that government has started paying salaries for public sector workers for the month of January with promises that the month of February will follow, and that every effort will made to regularize the prompt payment of salaries and vendors. (By John L. Momoh).