President George Weah Begs his people To exercise Patients Amidst Economic Nightmare


In the wake of the current economic challenges confronting the growth and Development of Liberia, President George Weah has called on all Liberians to bear patient with his administration as it is working on short,medium and long term plans to arrest the situation.
“Finding lasting solutions to the macro economic challenges will take time because structural transformation of the Country’s economy will produce sustainable recovery and growth”, the Liberian leader told his people on Monday, July 16,2018.
He said amidst the current challenges, the key to success in said regard is for Liberians to produce more locally made goods and services which will help reduce importation of goods and services abroad and help increase export thereby adding more value to what Liberia export.
UNMIL’s withdrawal,the practice of importing more then exporting,the reliance on the traditional export of iron ore,rubber and coffee are amongst many other attributing factors affecting the country’s economy, president Weah said.
Addressing the country on the state of the economy Dr. Weah noted that his administration will encouraged more competitiveness by providing Liberians with the necessary affirmative policy and support including access to finance and expertise which he believed will help solve the problem.
The focus he added is to amongst other things help empower and encourage Liberian owned Businesses to lead the transformation of the Country’s economy.
According to him the role to the transformation of the country’s economy will be long and sometimes difficult but was quick to urged all Liberians to work together to help lift Liberians out of poverty.
” We will confront the current challenges that have deprived us for decades and with strong resolved and commitment moving forward,we will overcome them and even achieve more”,he noted.
Additionally he appealed to all Liberians to understand the situation at hand and work in a collaborative including cooperative and patient style in collectively solving the problem.
The Liberian leader assured his people that his government is ready and prepared to take all necessary steps possible to remedy the situation.
He named short,medium and long term measures as some of the strategies in tackling the problem at hand.
He said a strong and more aggressive enforcement of monetary policy along with the relevant fiscal instruments will go a long way in addressing the situation because according to him past monetary policies have been toothless and there is a need for some reform to take place.
Going forward president Weah mandated the central bank of Liberia and other relevant agencies of government to have regular media conferences and press briefings in a bid to inform the people on the situation of their economy, also Dr. Weah instructed the CBL to infuse 25m United States in the economy to help tackle the current economic nightmare facing the country.
He wants the CBL to provide more monitoring and supervision of foreign exchange bureaus across the country including all local banks under its supervision.
Though the pro poor government inherited a broken,weak,under performed economy, rapid and unprecedented depreciation contributing to rising inflation Weah noted that it is no time for shifting blames but rather a time to find lasting solutions to the macro economic challenges which is terribly affecting the masses under this pro poor regime.
He admitted that the task is huge and very strong but with determination and commitment it will be arrested soon.
President Weah address to the nation Monday July 16,2018 will now begin the public discourse for probably this entire week with some expected to provide their expert opinions and or view for or against on the issue.
Until the short,medium and long term measures can be worked on by the pro poor government and with ten days to the Country’s independence day celebration,Liberians are still feeling the pinch of high exchange rate,sky rocketing prices of basic commodities leading to hardship,poverty,unemployment and many more.