RAISES QUESTIONS ABOUT CONSOLIDATED ACCOUNT
Monrovia, Liberia – Public questions about who is speaking the truth have been generated by the disparity between the Unity Party Administration and the former Ruling Party CDC on the nation’s consolidated account.
In his farewell address, former president George Manneh Weah claimed that the economy under his administration is stronger than the one Ellen provided him with in 2018.
According to President Weah, the government’s consolidated accounts still held forty million, forty-four thousand, three hundred, sixty-five dollars, and ninety cents in the United States.
President Boakai, however, stated that the statement is untrue in his first State of the Nation Address to the Joint Chambers on Monday, January 29, 2023. He pointed out that the net international reserves position as of the end of December 2023 was US$220 million.
“The report of US $40 million as the government consolidated account balance as of January 19, 2024, is not supported by the facts. The balance reported was US$20.5 million, highly encumbered, NOT US$40 million.”
The Coalition for Democratic Change responded to this on Monday, January by challenging President Boakai report in a press conference held at the party headquarters. The Chairman of the Coalition for Democratic Change, Mulbah Morlu, challenged the report by President Boakai and termed it as misleading information.
“We challenge President Boakai to publish the statement of the consolidated account of the period within 48 hours, or the CDC will make public copies of the same.”
According to Chairman Morlu, the Unity Party government purposefully neglected to acknowledge a number of domestic debts as part of the stock of domestic debt at the end of 2017, hiding USD 107 million from the IMF through the CBL and USD 65 million from commercial banks, among other loans.
This, he claimed, is a glaring underestimate of the debt stock. Approximately 60% of the estimated debt stock of 2.2 billion was committed during the Unity Party rule.
In response to a query on his alleged remarks regarding the budget deficit, the chairman continued, stating that the FY 2023 budget was revised following real revenue receipts of USD 710 million.
“This actual collection represented the highest amount of revenue collected in contemporary Liberia; While serving as Vice President of this republic, his government never got close to this amount of revenue actualized.”
Chairman Morluba reaffirmed the party’s pledge to maintain peace, prosperity, and progress in Liberia.
It is reported that on Tuesday, January 30, 2024, the House of Legislature requested the leadership of the Central Bank of Liberia to answer questions about the consolidated account on Thursday, February 1, 2024.