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The Falling Liberian Dollar: Why Blaming Ellen is Not a Solution

Liberians here at home and around the world are waiting with great anticipation as President George Weah holds his first major national address to discuss the state of the failing Liberian economy.  The one thing Liberians do not want to hear is the leader of the country passing the blame to Ellen Johnson-Sirleaf’s government of which he Weah and his Vice President were a part of during the currency fiasco.

As the President of the Republic of Liberia, the people will expect Weah to put out his strategies on how to stop the falling Liberian Dollar, how to increase employment among the young people who may have overwhelmingly voted for him, and especially how to fight corruption since he refuses to take the lead and declare his assets.  Now, if President Weah plans to pass the blame on to Ellen, here’s a reminder to him – Mr. President, you were part of the government under Ellen Johnson-Sirleaf. How do you exclude yourself when you had the authority to stop the CBL from flooding the market with LDs

President Weah and Vice President Taylor have been a part of the Liberian government for far more than six months, even though they are blaming the current economic woes on the previous government as if to say there are two governments in Liberia. Weah simply puts in a transfer, via the ballot box, from the legislative side of the government to the executive side of the government.

So, if President Weah is going to blame the previous government for the falling Liberian dollar, then he’s still to be blamed because he and his Vice President were part of the government that granted the CBL the right to flood the Liberian economy with LDs back in 2016 and 2017. The CBL has no power to print money unilaterally or without the approval of the Legislators.

So, let us get this blame game of the failing economy and falling Liberian dollar straight because this irrationality that the government is only six months old has grown into mass ignorance, foolishness and shows the very same government players now wants to change the game only because they are the focus of the public’s attention.

As senators in the same government with Ellen Johnson-Sirleaf, Weah and Taylor were hiding behind the Executive branch and casting blame on the poor health of the economy on just the Executive branch while pretending they were not part of the government. 

Let’s Put it in Perspective

The Government of the Republic of Liberia is made up of three parts.

  1. The Executive (currently headed by President Weah and previously headed by President Sirleaf).
  2. The Legislative – Senate and House of Representatives (which Senator Weah spent four years and Senator Jewel Howard Taylor spent 12 years).
  3. The Judicial – the Supreme Court and all lower courts. whose members are still part of both administrations.

As an opposition leader and a member of the government, President Weah not only should have known the issues facing the country but he claimed he understood the issues better than anyone and argued that he had a better plan to solve the problems (even magically). That is why he was transferred from the Legislative branch to the Executive branch within the same government.

The Case of the Missing Economist

It is important to note, that the Vice President of Liberia and former Senator of Bong County, Madam Jewel C. Howard-Taylor has described herself as an “Economist” who holds dual degrees in finance. Additionally, Vice President Taylor was the co-chair on ‘Planning and Economic Affairs’ committee along with being a one-time member of the committee that deals with Finance & Budget.

As Senators in 2016, Weah and Taylor should have known that the quantity of money circulating in the Liberian economy affects both micro and macroeconomic developments. At the micro level, when the CBL pumps money into the Liberian economy, it allows people to have more money to spend on personal items like clothes, hair and taking care of small purchases. On the other hand, at the macro level, the amount of money circulating in Liberia affects things like unemployment and the ability to produce products.

In 2016, as members of the Legislative branch – both Weah and Jewel Howard-Taylor, granted the CBL’s request to add additional LDs on the market.

The problems during the tenures of President Sirleaf, Senators Weah and Jewel Howard-Taylor are still the same problems today – they were all part of the same government. The only difference is, the Liberian people have placed one player in retirement and move two players on the playing field who were part of the same team – the GoL. So, let us get this blame game of the failing economy and falling Liberian dollar straight because this nonsense about the government is only six months old has grown into mass silliness, foolishness and shows the very same government players wants to change the game only because they are the focus of the public’s attention. Weah and Taylor were part of the previous government – they didn’t drop from out of space to become leaders of Liberia, they too are to be blamed.

 

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