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Friday, June 21, 2024

LIBERIA: FORMER PRES. GEORGE WEAH NOR PRES. JOSEPH BOAKAI WAS RIGHT IN US$40M CONTROVERSY

Date:

MONROVIA – The Governor of the Central Bank of Liberia, Aloysius J. Tarlue, settled the controversies surrounding the true status of the balance in the consolidated account of the Government of Liberia by revealing that the total balance as of January 19, 2024 stood at USD40,480,266.5, taking into account both Liberian dollars and United States dollars.

The breakdown provided by Governor Tarlue showed that the government’s revenue as of January 19, 2024, was LD1,001,747,090.35 and USD16,104,783.61, while the expenditure during the same period was LD1,433,139.906.53 and USD11,560,288.21.

In response to conflicting figures in the consolidated account, Governor Tarlue clarified that the total balance using both currencies was LD2,434,886,996.88 and USD27,665,071.82, after converting the Liberian dollar component to the United States dollar component using the official exchange rate of LD188.34 to USD.

The conversion resulted in an additional USD12,926,759.5, which, when added to the USD27,665,071.82, totaled USD40,480,266.5 as the final balance in the consolidated account.

The Governor’s statement put an end to the disputes regarding the true status of the consolidated account, which had been brought to light by written communications from Representatives Dixon Seebo and Ivar Jones. This clarification also addressed concerns raised by President Joseph Nyuma Boakai during his State of the Nation Address, where he expressed doubts about the reported balance and announced plans to implement a comprehensive audit of the previous government.

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