Liberians across the fifteen Political subdivisions of the Country are now raising series of mixed views and concerns due to the scarcity of the Nation’s legal tender on the local Market.
Currently the people are now feeling the pinched in a move to transact business including the payment of School Fees and other needed activities due to inadequacy of Liberian Dollars on the market especially in the local banks.
According to one of them, Mary Doe, she went at the Liberia Bank for Development and Investment (LBDI)National Government own Bank to withdraw $25,000ld in order to pay her children School fees but was told that the amount in question was huge noting that only $5,000ld can be given to her something she said was so frustrating as a result her children were send out of School, “Government needs to do something”, Ma Mary noted-softly.
In an interview with KMTV News, “The ongoing economic situation facing the nation and its people is scaring by the Day” said an elder James Gaye.
Currently there are some citizens who are saying the scarcity of the Liberian Dollars is welcoming because it will help in their minds addressed the high Exchange rate crisis on the local market which they noted is also one of the attributing factors to hardship in the Country while others think that it is not timely and will help further increase the already huge sufferings of the people.
According to a Businessman Davies Massaquio” He will keep his United States Dollar home until the government address the situation because as he speaks”, he just cannot understand anything.
“Money has always been out, five to seven years ago it was at 85% and now it is at 91%”, says Finance and Development Planning Minister Samuel Tweah, during his recent appearance on –ELBC- Super Morning Talk Show.
He narrated further that the only difference now is at first USD was surplus and now it has gone nothing that inflation and interest rate can’t see-eye to eye.
Minister Tweah also disclosed that during the Christmas Season there will be a demand of Liberian Dollars in the tune of $LD6-7billion something that experts say is now gradually been experienced with over two weeks to the beginning of December.
However, he pointed out that the government is working very hard to deliver to its people but urged them to be a bit patient.
He acknowledged that there are challenges and the government is aware and is finding means of addressing them adding that “We Live in a highly politicized society now as such everything is just more political even if good things are being done, it is not recognized because of the too much politics, this he said needs to change.
“We need to work as Liberians and Focus on the Agriculture and other fast growing as well as productive sectors to collectively move Liberia forward, this is not about party rather about our beloved Country, Liberia”, he stressed.
According to him the Government is doing so much but it is not being communicated to the people as wide as the challenges have been, this he indicated will be worked on as a government soon.
He said they are now putting in place policy framework to help address inflation by ensuring that excess Liberian Dollar which is driving inflation outside of the market is brought back into the Banks.
This he pointed out is one of their visions of raising interest rate, Investing in CBL-Bills, among others.
The Liberian Finance Minister said some of the things that were supporting the economy are no more as such the easy things in the past will have to change.
He named the aggressive enforcement of real estate payment, enforcement of taxes and many others as measures to help gradually address the situation, he added.
Conversations he indicated are in the pipeline to help improve systems and services at various banks to also help deal with the issues at hand.
Support to the Liberia Electricity Corporation, restructuring of the national budget and more are issues to be looked at as well for the strengthening of Liberia’s economy, going forward, Minister Tweah recommended.
Mr. Tweah used the occasion to call on his colleagues to work over time to deliver government’s Pro Poor Agenda for Prosperity and Development (PAPD)
“We are challenged but our best days are ahead of us, Liberia will rise, don’t listen to detractors and propaganda, stop listening to lies, this government will and is succeeding, let’s be positive- Liberians”, the Finance Ministry boss encouraged all Liberians.
In the wake of the economic situation facing the nation and its people, the masses are now eager for a practical and quick fix solutions to the ongoing crisis as they are feeling the pinch on a daily basis something the government has acknowledged but noted that it will require time for lasting solutions to be reached.