Prior to a change in administration, President Weah’s leadership plunges Liberia into a severe economic crisis
Monrovia, Liberia- The World Bank has promptly blocked Liberia’s credit accessibility, blaming the administration of President George Weah’s inability to fulfill its debt settlement commitments. The Weah government is 60 days behind on debt repayments, thus this extraordinary move raises major questions about the soundness of the country’s economy. In a thorough statement, World Bank Vice-President for Western and Central Africa Ousmane Diagana emphasized the seriousness of the issue and disclosed that the suspension was brought on by the administration’s inability to repay loans that had already been disbursed. The Weah government failed to fulfill its debt payment obligations on the final day of October despite previous alerts to Finance Minister Samuel Tweah. “Effectively from November 15, the right of the respective borrower to make any further…