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Friday, July 19, 2024

SENATOR KONNEH CALLS FOR SWIFT APPOINTMENT OF NEW FINANCE MINISTER AMID ECONOMIC CHALLENGES

Date:

MONROVIA – The Senator of Gbarpolu County and former Finance Minister, Amara M. Konneh, has shared his views regarding the recent resignation of Mr. Boima Kamara from the Ministry of Finance and Development Planning (MFDP) on Tuesday, July 8, 2024. Kamara’s resignation, reportedly due to health conditions, has raised significant concerns about its impact on Liberia’s fiscal policy and economy.

On Wednesday, July 10, Senator Konneh highlighted the timing of Kamara’s resignation, noting that it coincides with the 26th economic season, a critical period for the nation’s economic activities. He emphasized that the slow disbursements reported in the 2024 First Quarter Budget Execution Report, despite substantial revenue collection, could have a contractionary effect on the economy. This situation might hinder the government’s capacity to provide essential services.

Konneh acknowledged that the delays in spending by the MFDP might be attributed to the slow formation of the government. However, he stressed the importance of promptly appointing a successor to avoid potential disruptions, especially with the anticipated economic activities around July 26th, Liberia’s Independence Day.

Expressing empathy, Konneh conveyed his positive thoughts and prayers to Kamara and his family, thanking him for his service to the country. “May God heal him,” Konneh added, emphasizing his compassionate stance.

On Tuesday, July 8, news outlets reported Kamara’s resignation due to health concerns. Although the Executive Mansion has not confirmed the resignation, sources observed Kamara clearing out his office on the same day. Insiders reveal that President Joseph Boakai, dissatisfied with Kamara’s performance due to his health issues, had requested his resignation last week. Despite Kamara’s assurance that his health had improved, the President remained concerned about his effectiveness, given his frequent absences.

Kamara, who was in his second term as Minister of Finance for just six months, has faced significant challenges in fulfilling the demands of his role. Reports indicate that he has been offered a senior position at the Central Bank of Liberia, potentially as a non-executive governor. However, it remains uncertain if Kamara will accept this role, given his previous experience at the bank.

President Boakai is currently deliberating between two potential successors: his financial advisor, Molley Kamara, and former Minister Augustine Ngafuan. However, senior officials of the Unity Party are concerned that Ngafuan’s political ambitions might make him unsuitable for the position. As of now, the Executive Mansion has not issued an official statement, leaving the situation in flux.

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