Minister McGill ‘Worries’ Over Liberia’s Economy
The Minister of State for Presidential Affairs, Nathaniel F. McGill has said that the Coalition for Democratic Change (CDC) led Government is seriously concerned about the current state of affairs of the economy.
Min. McGill made the assertion on Wednesday, January 6, 2021, during the departure of President Weah for the inauguration ceremony of Ghana President-elect Nana Akufor Addo. On the trip, President Weah is accompanied by the Minister of Foreign Affairs, Dee Maxwell S. Kemayah Sr., Minister of National Defense Daniel Ziahnkahn, First Lady Clar Weah and the Managing Director of the National Port Authority Bill Twehway, among others
According to McGill, the President is seriously concerned about the economy, however, the government is initiating some steps and measures to help address the situation. He said plans and strategies by economic experts and other relevant authorities are being worked on to ensure that the problem is addressed in a timely manner to better the lives of the people.
Meanwhile, in the absence of President Weah, Minister McGill will act as chair of the Cabinet in close consultation with the Vice President, and via telephone contact with the President. He recounted the long-standing ties that both Countries enjoyed ranging from Peace and Security, Trade and Commerce and many others.
“We have both been bilateral partners and friends for many years and we respect, cherished and enjoy such diplomatic ties and hope for more,” Minister McGill indicated to reporters at the Roberts International Airport. President Weah along with the team is expected in the Country on Sunday, January 10, 2021.
It can be recalled that Minister McGill late December predicted intense shortage of the Liberian banknotes on the local market if the 54th National Legislature reneges on authorizing the Central Bank of Liberia (CBL) to print additional new banknotes upon their return from the break.
According to reports, Members of the 54th National Legislature including the newly elected Senators are expected to return to the Capitol Building on Monday, January 11 to convene the 4th Session, in keeping with Article 32 (a) of the 1986 Liberian Constitution.
Article 32 (a) of the 1986 Liberian constitution clearly states that: “The Legislature shall assemble in regular session once a year on the second working Monday in January.”
Minister McGill said Liberians will continue to experience difficulties in exchanging their goods or services with mutilated banknotes if lawmakers who have the Constitutional mandate or responsibility fail to authorize the printing of additional money.
Minister McGill said mutilated Liberian dollars will continue to circulate in the country, thereby making citizens not to find their own country currency to use.
According to him, the scarcity of the Liberian dollars on the local market is due to the huge mutilation of the local currency.
He continued: “It got to do with the country and we got to change the money. It is purely a Legislative responsibility-if we do not have money in this country; they are lawmakers they have the power to authorize it. If they do not authorize it, we will not have the money. Then, the rotten money will be there. Sooner or little, we will not have Liberian dollars to use again because the kind of Liberian dollars we having. By the time the money gets mutilated, you can’t find it.”
Minister McGill said if the lawmakers do not agree to change the money, Liberian people will get problem with the huge mutilated Liberian dollar.
According to him, the current scarcity of the local currency on the Liberian market has nothing to do with the “President or politics.”
He indicated that the situation rests on the shoulders of lawmakers, who have the constitutional responsibility to authorize the printing of new or additional money to avoid the circulation of mutilated. Minister McGill added that the failure of legislators to authorize the printing of new or additional banknotes will continue to negatively affect the nation and its people.
