-Finance Ministry and CBL give figures to Liberian lawmakers
By Frank Sainworla, Jr. fsainworla@yahoo.com
Figures released when the Finance and Development Planning Ministry and Central Bank of Liberia (CBL) officials in their latest appearance before a special House of Representatives hearing show that there is far less than US154 million left in the national coffers.
In an interview with the British Broadcasting Corporation last Month after she won the US$5 million Mo Ibrahim Prize for outstanding African leadership earlier in February, former President Sirleaf claimed she left over US$150 million in the national coffers when she handed over power to Weah on January 22, 2018.
Sirleaf was reacting to claim by her successor President George Manneh Weah in his first State of the Nation address on January 29, 2018 the government was broke and the country’s economy he inherited was broken.
Appearing before the House Plenary at the Capitol on Thursday, CBL Executive Governor Milton Weeks said as at January 22, 2018 “the total balances was US$5 million 637 thousand dollars.”
Weeks said the total aggregate balances in Liberian dollars was L$5534 million. “Members of the House of Representative, those were the balances as at that day,” the CBL Governor told the lawmakers.
But in her BBC interview in February, former President Sirleaf said the records are there with the new leadership and “the figures speak for themselves”, arguing that she didn’t leave the Liberian government finances in shambles as it is being made for people to believe.
For his part, Deputy Finance Minister for Fiscal Affairs, Samora Wolokolie said “unreconciled balances as well as bank reconciliation statements” as at January 31, 2018 was over US$11 million and 835 thousand dollars.
According to him, “the information speaks for itself” in so far as government’s liquidity is concerned and that as at the same period (January 31, 2018) the Liberian dollars balance is L$642 million.
He then put the “sum total” to over US$16 million.
Liberia currently operate a dual currency regime, where both the United State dollar and the Liberian dollar are legal currencies.
Thursday’s House hearing was called because Liberian lawmakers themselves were confused as to whether or not the Liberian government is broke and the exact health of the Liberian economy.
Both the Senate and the House of Representatives during their Tuesday’s session called for the country’s financial and economic managers to face plenary and clarify the issue.
Over a month into the CDC-led government, the situation remains confused and blurred as it was when Weah took office back in January with calls from Lawmakers for the Minister of Finance and Development Planning Samuel Tweah, Central Bank of Liberia (CBL) Executive Governor Milton Weeks to appear before plenary to shed light on this critical issue.
Montserrado County Representative from the ruling CDC party Dixon W. Seboe presented his case to the body and got the backing of his colleagues for these financial and economic managers to appear before the body this Thursday,
“Controversial US$150 million which the Ellen Johnson-Government’s administration left in the coffers, and the announcement by President Weah that the country is broke,” Rep Seebo, who is a member of the House Finance Standing Committee said.
In a letter read on the floor of the House plenary on Tuesday, Rep Seboe said:
“I write to bring to the attention of this House the statements made by President George Weah during the State of the Nation address that the country’s economy is broken and the country is broke, and that our former President Madam Ellen Johnson Sirleaf in a BBC interview claimed that she left more than US$150m in the nation’s coffers.”
“These two statements leave more questions unanswered. Was the president properly briefed on the state of the economy? Are there hidden funds that were not reported? Were the former president’s remarks not guided by facts? If we have this much money readily available, the urgent needs of civil servants must be handled immediately to enhance the smooth running of the government.”
Similar concerns were expressed on the floor of the Senate for the country’s financial and economic managers to explain what was actually obtaining such as the “Controversial US$150 million which the Ellen Johnson-Government’s administration left in the coffers, and the announcement by President Weah that the country is broke.”
Grand Bassa County Senator Nyonblee Karnga-Lawrence, Chair of the Senate Committee on Rules, Order and Administration spoke of the need for these officials “to present the actual status of the country’s economy.”
Senator Nyonblee Karnga-Lawrence’s stance was buttressed by other fellow colleagues including Grand Bassa Senator Jonathan Kaipay who, together with Montserrado County Senator Geraldine Doe-Sheriff.
They even requested that the outgoing administration be made to inform the nation on the status of the economy that would be inherited by the next leadership.
At the close of the Sirleaf transition, handover notes are said to have been given by the former Liberian leader and her various sectoral officials to the incoming government.