Alloycious Tarlue the Governor of the Central Bank of Liberia has avowed the Cash Balance announced by Ex-President George Weah during his Final Address to Liberia

By Abdul Rahman Bangura-

Photo Credit: Cocorioko

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Erstwhile President Geroge Weah made it to the citizens of Liberia that he left a total cash balance of $40,375.90 million in the Liberia’s Consolidated Accounts.

President Weah remarked that in 2018, he and his administration inherited a consolidated cash balance of over $7 million from erstwhile President Ellen Johnson-Sirleaf.

Weah further told the nation of Liberia that his government inherited over $94.9 million in net international reserves, and handed over to the new administration $222.7 million, which totals to 136% increase.

In contrast to the Ex-President’s disclosures, the current President Boakai told Liberians in his maiden state of the nation address on January 22, that the balance was $20.5 million, not $40 million, as stated by former President George Weah.

President Boakai noted, the net international reserves position reported at the end of December 2023 was $220 million.

“The report of $40 million as the GoL’s consolidated account balance as of January 19, 2024, is not supported by the fact. The balance reported by the CBL as of the same date was $20.5 million, highly encumbered, not $40 million. To this end, we re-emphasize our earlier commitment to audit and ensure that regular audits will be a culture across all branches of government, not only the Executive”.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent