USAID Country Director Anthony Chan said it will be very difficult to make substantial economic gains if policies and systems to prevent and combat corruption are not enhanced.
Speaking at programs marking the commemoration of African Anti-Corruption Day Mr. Chan stressed the need for his Liberian counterparts to see financial accountability as the utmost importance for any reform process.
He said as they celebrate the day Thursday, reports estimates that upwards of $50 billion USD are misappropriated annually in every region in Africa due to large part to misuse of public funds and resources.
The USAID boss calls for a serious concerted effort to be made to promote functional institutions that will promote transparency and accountability in government.
Mr. Chan at the same time wants people in positions of trust to be wise and prudent stewards of the public purse.
He said one of the best ways to deter and counter such gross misuse of public funds and resources is to ensure there is a fair, predictable and accountable system for the administration of justice.
Dr. Chan encouraged appropriate institutions in Liberia to discuss and put forward options to build institutions that will foster accountable governance.
Also speaking at the program was the Officer in Charge of the Liberia Anti-Corruption Commission Charles Gibson who called for stronger action among African Countries in the fight against corruption.
Mr. Gibson said if stolen funds must be recover across the continent including Liberia than it is key for laws to be revive.
He quoted Nigerian President Muhammadu Buhari as saying
“If We do not kill Corruption”, Corruption, will kill us”.
He told a gathering Thursday at ceremony marking African Anti-Corruption Day, that the recovery or proceeds of corruption is complex but with provision of adequate logistics and others, such fight can be realized.
According to him Corruption weakens confidence in public institutions and as well damages the private investment climate and must be tackle collectively.