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Rice Importers Agrees To Price Reduction

Rice Importers Agrees To Price Reduction In the wake of the delicacy that have always been attached to the commodity, rice which is the staple food of the country, the leadership of the Coalition for Democratic Change (CDC) headed by President George Weah recently met with members of the Rice Importers Association of Liberia to hold discussions on the reduction of the price of the item on the local market. During the meeting which began on Thursday February 1 and continued till February 2, 2018, the officials of the association agreed on the reduction of the price of 25kg bag of rice by two United States dollars while the 50kg by four United States dollars. On the first day of the meeting, the Liberian President…

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‘Hotel Buchanan’ Brightens Bassa

‘Hotel Buchanan’ Brightens Bassa   MONROVIA: With the departure of President Ellen Johnson-Sirleaf under whose leadership private sector development flourished remarkably well, the latest establishment of the Buchanan Hotel in the port city of Buchanan, has brightened the county to the extent that it has become a compelling destination for all Liberians and other visitors. The hotel popularly referred to as ‘Hotel Buchanan’ and located between the intersection of Robert and Church Streets was established on January 16, 2017 through the AYA Group, a cocoa and coffee exporting conglomerate in Liberia. During a visit to the hotel over the weekend in that part of the country, the hotel which ideally overlooks the scenic beauty of the Atlantic Ocean is said to be the largest facility…

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Weah’s Pro-Poor Agenda Steps Up

Weah’s Pro-Poor Agenda Steps Up  …Committed To Local Content MONROVIA: In fulfillment of one of his campaign promises to foster a pro-poor government by uplifting his compatriots from the dungeons of abject poverty to a pedestal of sustainable livelihoods, President George Manneh Weah has become the first Liberian leader in the nation’s current political history to localize governance structure with the appointment of predominantly home-grown officials to various positions. According to the list of 83 cabinet appointments so far by the youthful Liberian leader, which are subject to confirmation hearing by the Senate, where applicable, Ministers designate include the likes of: Professors Ansu Sonii, Ministry of Education and Wilson Tarpeh, Ministry of Commerce and Industry, Gesler Murray, Ministry of Lands, Mines and Energy, D. Zoegar…

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Delay To Pay Haddad’s 10.7m Debt

  Delay To Pay Haddad’s 10.7m Debt Civil Society To Sue Ellen For Encumbrance …As Interest On Debt Increases To US$36m With President George Manneh Weah’s recent call for zero tolerance on corruption, many civil society organizations and other state actors are considering a court action against former Liberian leader, Madam Ellen Johnson-Sirleaf for the economic difficulty she has plunged this new administration and the country into as a result of her deliberate failure to make payment of US$10.7m owed businessman George Haddad for vehicles and spare parts supplied the government between 2003- 2008. The debt grew out of a contractual agreement entered into between the then interim government of Chairman Gyude Bryant (late) and the Prestige and Alliance Motors Corporation to supply  vehicles and…

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THE LIBERIAN BUSINESS AND ECONOMIC EMPOWERMENT ACT OF 2018-1_920

Liquidity Crunch Hits Liberian Business

Pres. Weah: “Our currency is in free fall, inflation is rising and… our foreign reserve is at an all-time low.” (Above: Forex Bureaus around Monrovia show the exchange rate well above L$130/US$1. ) Exchange rate going up almost daily A  business day survey revealed that the ongoing liquidity crunch that few months ago hit banking and other financial institutions continues to bite hard across the country. Initially, when the liquidity crunch set in, heads of financial institutions and independent experts laid blame at the doorsteps of the Central Bank of Liberia. In a swift reaction to the claims of the commercial banks, CBL Governor Milton A. Weeks told a news conference in Monrovia that the bank gave the commercial banks US$5,000,000 intended to stabilize the…

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Who’s Reaping Grand Kru County Royalty?

In Grand Kru County Several kilos of Gold leave on a daily basis -County remained under Development Who’s Reaping the county’s Royalty? Grand Kru County is rich with Natural Mineral resources, but ironically the county with this resource happens to be the poorest locking basic social services with citizens living in destitution, yet these resources are extracted with little or no benefit to the county. The gold rich Grand Kru County can perhaps be graded as one of the poorest county as the capital city, Barclayville is no different from an ancient settlement with several primitive houses and makeshift structure. Interestingly the county has become a place for illicit mining activities. The massive search for gold by Liberians and foreign nationals including Chinese, Ghanaians etc…

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Governance and Boost Economic Transformation

L/R: Hon. Samuel Tweah, Minister of Finance and Development Planning and Dr. Henry Kerali, World Bank Country Director for Ghana, Liberia and Sierra Leone, and The World Bank and the Government of Liberia have signed a $24.67 million grant agreement for the Fourth Poverty Reduction Support Development Policy Operation (PRSDPO-IV) for Liberia. This agreement comprises a $20 million grant from the International Development Association* (IDA), and a $4.67 million grant from the Norwegian Liberia Forest Landscape Single Donor Trust Fund. The agreement was signed by Dr. Henry Kerali, World Bank Country Director for Ghana, Liberia and Sierra Leone, and Hon. Samuel Tweah, Minister of Finance and Development Planning. The PRSDPO-IV is the last of a programmatic series of Development Policy Operations to support the implementation…

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Cllr. Fonati Koffa Submits Liberian Business and Economic Empowerment Act of 2018

Rep. Cllr. Fonati Koffa Submits Liberian Business and Economic Empowerment Act of 2018 The Plenary of the Honorable House of Representatives of the 54th Legislature has mandated its committees on Judiciary, Ways, Means and Finance, Commerce and Labour to scrutinize a proposed Act seeking to strengthen and protect Liberian businesses. The Bill title “Liberian Business and Economic Empowerment Act of 2018’’ was presented to the House’s Plenary by Hon. Cllr. J. Fonati Koffa of Electoral District 2 Grand Kru County along with fifteen (15) Co-Sponsors from the House of Representatives. The proposed Act was submitted on Tuesday, 30 January during the 6th day sitting of the House of Representatives of the 54th Legislature. “The purpose of this bill is to strengthen the law protecting Liberian…

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Abrupt Drop in Exchange Rate Heightens Vulnerability of Liberia’s

Monrovia – The abrupt drop in the exchange rate between the United States and the Liberian dollars few hours before President George Manneh Weah delivered his first address to the Legislature on Monday, January 29 was mysterious. For a fragile economy like Liberia’s, uncertainties can be uncontrollable and when the movers-and-shakers of the sector are anxious, the local foreign exchange market takes a warp. It is the Liberian to U.S dollar’s exchange rate that sets the tone for most aspects of the local economy. The unprecedented decline in the exchange rate is now generating concerns and uncertainties at the same time, while Liberians ponder the factors responsible. Economists say one reason for such slump in the exchange rate was the suspicion conceived by businesses as…

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