The Economy

Dr. J. Mills Jones

Governor Jones Reaffirms Economic Support to Rural Dwellers

Central Bank Governor Dr. J. Mills Jones has reaffirmed the bank’s commitment to support financial growth among Liberians, especially those residing in rural parts of the country.

Governor Jones gave the assurance recently in Zwedru, Grand Gedeh County when hundreds of business people as well as motorcyclists and other residents lauded him and his staff for helping to better their lives through financial loans.

Mr. Dieye, UNDP’s Director of Regional Bureau for Africa

Due to Ebola Impact West African Economies Set to Lose US$3.6 Billion Annually

The countries of the West Africa region that experienced low or zero incidence of Ebola have still been affected by the Ebola crisis because of their deep connections with the three hardest hit countries, according to a new United Nations report released yesterday.

Spreading from Guinea in December 2013, the Ebola hemorrhagic fever has already killed 10,000 people, mainly in Liberia, Guinea and Sierra Leone.

Mr. Mayah: “Electricity theft imposes huge financial loss on LEC, making it difficult to pay workers.”

LEC Loses US$1.4m Monthly

The Chief Executive Officer of the Liberia Electricity Cooperation (LEC), Joseph T. Mayah, has said that the corporation is losing an estimated US$1.4 million monthly due to electricity theft in the country.

Mr. Mayah made the disclosure last Friday at the Ministry of Information regular press briefing.

According to him, electricity theft has imposed a huge financial loss on the corporation, making it difficult to pay workers, buy fuel to run the generators and maintain the equipment.

CBL Executive Governor Jones

‘Adhere To Enterprise Risk Management Policy’

The Central Bank of Liberia has warned banking institutions operating in the country to comply with the Enterprise Risk Management (ERM) policy to prevent loss of resources and capital.

The ERM policy warning was contained in the CBL 2014 annual Financial and Economic Bulletin.

The ERM specifically addressed the structures, processes and standards implemented to manage risks on an enterprise-wide basis in a consistent manner.

LMA President Madam Sloan: local traders are not making profit because they are buying their goods in US dollars from foreign importers and selling them in Liberian dollars.

LMA Prez Wants Gov’t to Tackle Dual Currency Issue

The president of the Liberia Marketing Association (LMA), Madam Lusu K. Sloan, has called on the government to address the issue of dual currency in the country.

  Madam Sloan made the call, recently at a roundtable symposium on the economic and constitutional implications of Liberia’s dual currency regime in Monrovia.

  The round table discussion was organized by the Governance Commission in partnership with the Constitution Review Committee, and it brought together several state actors from public and private sectors.


Liberian Observer

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