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Liberian Central Bank Announced Stimulus

By George Kennedy The Central Bank of Liberia (CBL) has announced a major financial sector stimulus reducing interest rates on existing stimuli with banks for Liberian businesses and paying off the outstanding loan obligations of all private schools, from kindergarten through high school. According to the CBL, the commercial banks have already provided the CBL with the list of schools and the amounts involved. In a special statement on the impact of the Ebola virus disease (EVD) on the economy on yesterday, CBL Executive Governor Dr. J. Mills Jones said…

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Business 

Liberia: Tax Evasion Hampers Revenue

By Alva Mulbah Wolokolie   Finance Minister, Amara Konneh, has announced that there are serious tax evasions taking place in the economy of the country which has resulted to a shortfall in the 2013-2014 national budget.   This situation has drawn the attention of Mr. Konneh to the extent that he has organized a taskforce group to vigorously go out beginning today and collect all taxes because as he puts it, the Ministry is experiencing low progress in revenue generation. According to him, the slow-down in economic activity has been discovered…

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Business News 

Liberia’s Central Bank Chief Speaks on Economy

By Calvin Brooks MONROVIA (LINA) – The Executive Governor of the Central Bank of Liberia (CBL), Dr. J. Mills Jones, has cautioned that any attempt to restrict the dual currency regime currently in place will worsen inflation in Liberia. Governor Jones made the statement Friday night at a dinner to climax a week celebration organized by the Liberia Bankers Association at the Monrovia City Hall. Jones observed that countries which have minted their own currencies are faced with serious inflation problems as a result of the unfavorable exchange rate of…

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Business News 

Liberian President Cement Relations with UAE

President Ellen Johnson Sirleaf and her delegation on Friday (Nov 22) continued their three-day working visit to Dubai, United Arab Emirates, with a tour of the massive facilities of Dubai Port World’s Jebel Ali facilities – the biggest man-made port in the world. During the visit, the President’s technical team continued discussions with the port’s executives on investment opportunities in Liberia, particularly its ports and roads, and on the country’s 25-year Master Plan for its four ports. President Sirleaf met and held discussions with the Chairman of the Dubai Chamber…

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Business News 

Liberia’s Finance Minister Heads Delegation to World Bank

By Bridgett Milton The Liberian Government delegation to the 2013 annual meetings of the World Bank and the International Monetary Fund (IMF) in Washington DC has concluded with various high-level meetings, geared towards accelerating infrastructure development in Liberia. According to a press release, this year’s Annual Meetings were meant to follow up on the Agenda for Transformation which also took place last year. The meetings, which also included officials from the Ministry of Finance, Public Works and the Central Bank of Liberia, took stock of progress made on targets set in…

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Business 

Liberian Crude Is a Game Changer

By T. Q. Harris Jr.   There is no doubt Liberia is well on its way to becoming an oil producing country; but along with the benefits this is likely to bring, there’s certain to be enormous challenges as well as the possibility of a disaster. Maximizing benefits and minimizing the challenge requires meticulous planning and strategizing at the current pre-production stages. With the stakes as high as they are, there is no time for learning on the job. Therefore we must at this juncture engage the services of veteran…

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Business Politics 

Abolish Or Privatize LPRC

      By: Tewroh-Wehtoe Sungbeh Long before one of the world’s leading auditors, Ernst & Young, was appointed by the European Commission to conduct a systems and financial audit of the Liberian Petroleum Refining Company (LPRC) from the period of October 1, 2003 to June 30, 2004, most Liberians see the institution as a breeding ground for waste and corruption. Like the Liberian Produce Marketing Association (LPMC), the Liberian Broadcasting Service (LBS), the Liberian Electricity Corporation (LEC), the Liberian Water and Sewer Corporation (LWSC), and many more are money-wasting bureaucracies that…

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Diamond activities in Liberia gears up

    Listener staff report Liberia is making progress with diamond mining reports say since the ban on the precious stones were lifted by the united nations security council five years ago. Under president Charles Taylor Liberia used the mineral in what became known as “blood diamonds.” According to information, the Liberian government exported 27,772 carats of diamonds during the first 9months of the 2012. According to Rough and Polished, an “information and analytics on diamond and jewellery markets,”  an industry insider, which boasts offices in Russia, the U.S. and Europe. The…

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Business News 

Ngafuan and Liberia’s economy diplomacy

    By: Ralph Geeplay Liberia’s Foreign Minister (FM) Augustine Kpehe Ngafuah comes to the foreign minister  position with a core strategic objective for promoting Liberia policy initiatives by advancing what he and Sirleaf on many occasions have termed the “the economy diplomacy,” of the Unity Party-led administration. The West African state which is still reeling from almost two decades of civil strife wants to build bridges with investors and foreign governments by winning investment to the country as it advances peace, and thereby, over all create stability. A trusted…

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