Documents in the possession of the New Dawn newspaper have revealed that the actual amount loaned to the Government of Liberia by the Central Bank for Civil Servants salaries based on former President George Weah's request on December 11, 2023, was US32.
Documents in the possession of the New Dawn newspaper have revealed that the actual amount loaned to the Government of Liberia by the Central Bank for Civil Servants salaries based on former President George Weah's request on December 11, 2023, was US32.8 Million, not US83 million, as speculated by Gbarpolu County Senator Amara Konneh and his likes.
Sen. Konneh further claimed in his post that the CBL loaning out US83 million to the Government of Liberia in December 2023"was a violation of the Constitution, Public Financial Management Law of 2009 , and the CBL Act." And had void to follow each check all the way to the vendor. "Subject to the overall limits specified by this Act, the Central Bank, by decision of the Board of Governors, may extend credit to the Government of Liberia with maturities not exceeding six months only under exceptional circumstances such as war, famine, or other natural disasters. In the event any credit remains unpaid on due date, the debt including accrued interest shall be convened into markable securities with a maximum of 12-maturity which shall bear market related interest rates.
To date, the total loan owed by the GoL to the CBL, including the 83 million accrued over the years, is over US$570.4 million.
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