By Monrovia, Liberia – Disturbing economic indicators highlight a disheartening trajectory for Liberia’s financial stability under President Weah’s leadership, with net reserves declined from US$153million in 2017 to US$27million; plummeting by a staggering US$126 million in just two years. The Unity Party’s legacy in 2017 has seen an 82.4% reduction, intensifying concerns about the economic direction under the CDC government. The average exchange rate has taken a crippling blow, surging from 80 in 2017 to a concerning 190 in 2023, marking a 110-point increase in six years. Inflation, a pivotal factor, has risen by 6.57% during the same period, with annual rates hitting 2.66% under CDC’s six-year rule, a stark contrast to UP’s 0.78% during its 12-year tenure.
Equally bleak is the debt situation, with the Central Bank of Liberia’s claims on the government skyrocketing from US$256 million in 2017 to an alarming US$630 million in 2023, indicating a distressing increase of US$374 million within six years. Furthermore, CBL’s claims on other institutions surged from zero in 2017 to US$121 million in 2023, with a staggering US$101 million solely attributed to claims on NASSCORP. These dire figures depict a severe image of economic mismanagement, sparking serious concerns about the nation’s financial stability under the current administration.
By Jusufu Dolo
