MONROVIA – The George Weah-led administration would be dealt a major blow amid the current economic turmoil as the biggest employer in the country’s private sector, Firestone Natural Rubber Company, announces the laying off of 800 employees. Firestone most recently laid off over 400 workers in 2016, again crediting the decision to falling rubber prices. The pronouncement comes at a time when the International Monetary Fund (IMF) has announced a steep slump in Liberia’s economic growth – dropping from 4.7 to 0.4 per cent for 2019. However, according to the statement, these measures alone will not be enough to restore Firestone Liberia to profitability. With the passage of the new Special Economic Zone Law, we will create one-stop shop business zones for the private sector.

Source: Front Page Africa March 19, 2019 01:18 UTC