Liberia: TWEAH DEBUNKS BOAKAI’S ASSERTION

Former Finance, and Development Planning Minister, Samuel D. Tweah has sharply reacted to President Joseph N. Boakai’sassertion that the US$40 million consolidated account which the Liberian leader said is not backed by facts.

In his State of the Nation Address (SONA) yesterday, President Boakai noted that the net international reserves position reported by former President George M. Weah at the end of December 2023 was US$220 million.

According to the Liberian leader, the report of US$40 million as the government’s consolidated account balance as at January 19, 2024 is not supported by the fact. The President said the balance reported by the CBL as of the same date was US$20.5 million, highly encumbered, and not US$40 million.

Boakai noted, “To this end, we re-emphasize our earlier commitment to audit and ensure that regular audits will be a culture across all branches of government, not only the Executive.”

But in a sharp reaction to the President’s assertion, former Minister Tweah released a chart of the former government’s balances with several figures. In the chart, it is stated that the government’s consolidated cash balances for Fiscal Year 2023 and 2024 as of January 17, 2024 amount to US$40.044.365.90.

According to the former Finance Minister, the government’s debt account in Liberian Dollars amounts to 299,118,714.98. hesaid the government’s debt in the United States amounts to 23, 952.53 while the government’s expenditure account balance in Liberian Dollars amounts to 392,240,760.42.

On expenditure account balance in USD, former Minister Tweahdisclosed put the figure at 7,913,113.16. For Fiscal Year 2024, he puts the amount to US$8,21,712.46. Among other things, the former Minister noted puts the Health Social Security in Liberian Dollars to L$140,804,641.99 while in United States Dollars, it amounts to US$409,856.13.

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