According to the Central Bank of Liberia, the current foreign reserve Weah’s administration has inherited is US$155.1 million. And with the prevailing economic situation, generating more revenue would be a daunting task that would require massive stimulus plan. Exchange rate pressure rise in global petroleum price coupled with government’s tax policy on petroleum products were major factors leading to the high inflation. During his confirmation hearing, new Finance Minister Samuel Tweh, said the rush to de-dollarize the Liberian economy caused increase in the exchange rate between the US and the Liberian dollars. According to Farhat, President Weah’s administration would have to make some policy decisions, which would not require money.

Source: Front Page Africa January 31, 2018 02:37 UTC