These agreements were quickly passed without much debate on the source of the loan or the kind of sovereign guarantee being put up. Not content with the two loan agreements signed, and apparently without taking into consideration the burden of accruing huge debts, our lawmakers are mandating the President to negotiate yet more loan agreements. As noted, Liberia already has $1.049 billion debt and this administration has already increased its debt portfolio by signing two new loan agreements. The loans come with sovereign guarantee requirements that can be exacting and they could potentially have a debilitating effect on the country’s economy. The sovereign guarantee being offered is however shrouded in secrecy.

Source: Daily Observer June 14, 2018 02:15 UTC