Bring Back US$445M, If…

By R Joyclyn Wea

The government of Liberia says if the US Rate must reduce, people calling for the reduction of the exchange rate in the country should bring back the US$445 million that was allegedly removed from the coffer of the Central Bank of Liberia (CBL) as well as the alleged US$92 million that the IMF put into the economy during ex-president Sirleaf regime to help stabilize the exchange rate.

MICAT Deputy Minister for Press and Public Affairs, Eugene Fahngon

Speaking on the situation Thursday, Deputy Information Minister for Public Affairs, Eugene Fahngon maintained that if the US$92 million and US$445million put into the Liberian economy, the rate would immediately drop.

He emphasized that people have been talking for the last twelve years and therefore they should bring back money from NOCAL and other areas so that it can be put into the economy if they actually want the rate to reduce.

Fahngon response comes as a result of a local daily publication “Reduce the Rate, Not Chicken-Feet” and it comes in the wake of the high exchange rate of United Sates dollar against the Liberian dollar.

“Is like, you created the mess. You went up the stream and put dirt into the river and somebody is trying to clean your mess and you are not giving them the chance to clean the mess; he further complained.

Fahngon who was not specific as to who are those that should bring back these monies believe that those calling for the reduction of the exchange rate are former officials of ex-Liberian President Ellen Johnson Sirleaf Government.

“When we start to ask them for those kinds of things people will call it watch hunting. The former president for example took responsibility for NOCAL. Please bring the almost US$18million and put it back into the economy and see whether the rate will not decline,” Fahngon challenged.

According to him, the US$445million that allegedly disappeared last year from the Government’s coffer would have contributed greatly to the reduction of the rate as well as boost the economy.

“The money for poverty reduction that was borrowed to country devil, we go back and collect that money; so, what the President is doing and continue to do is to carry out the mandate that the Liberian people give him. He is giving the power back to the people, help bring relief to them and their children, to develop the country, improve healthcare sector and take educational sector to a higher level,” Fahngon added.

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