-As he bids Liberians farewell
By Jerromie S. Walters
As he bids Liberians farewell, President George Weah says his administration is leaving behind a better economy than the one he inherited in 2018.
In his farewell speech, late Sunday, January 21, 2024, the outgoing President emphasized that President-elect Joseph Nyuma Boakai will be taking over a stronger economy with a significantly larger net international reserve and more.
Weah proudly announced that his administration has increased the net international reserve from $94.99 million in 2018 to an impressive $222.7 million, marking a remarkable 136 percent increase. In his opinion, this substantial growth in reserves positions the incoming administration to handle any emergency macroeconomic challenges more effectively than his administration did.
“I must report to you that we are leaving behind a better economy than we inherited. Today, President-elect Joseph Nyuma Boakai will inherit a stronger economy than I inherited. There is a bigger net international reserve positioned than was handed me in 2018.”
He continues: “I inherited nine-four million, nine-hundred and nine-nine thousand United States dollars in net international reserve. And I’m handing over to the next administration a net international reserve of two-hundred, twenty-two million, seven hundred United States dollars. This is a one-hundred and thirty-six percent increase in the net international reserve positioned.”
Moreover, Weah highlighted the total cash balance in the government’s consolidated account, which stands at $40.04 million. This is a significant improvement from the $7 million cash balance inherited in 2018. With these increased resources, the next administration will have more financial flexibility to address pressing national needs.
He says the total cash balance in the government’s consolidated account is $US forty million, forty-four thousand, three hundred and ninety cents. In 2018, my government inherited a consolidated cash position of seven million United States dollars. The next administration thus has more resources to deal with emergency microeconomic challenges than my administration had at its disposal in 2018.”
During his six years in office, President Weah believes that his administration accomplished much for the country. However, he acknowledged that rumors and misinformation have plagued the nation’s body politic, leading to a perception that his administration did not achieve anything substantial.
In his speech, President Weah expressed his hope that Liberia will overcome the challenge of rumors and misinformation, urging the nation to focus on the tangible progress made during his tenure. He emphasized the importance of unity and a shared vision for the future, urging the Liberian people to come together and build on the foundation laid by his administration.
As he says goodbye to the presidency, and amid other challenges, he leaves behind a legacy of tangibles, economic growth, and increased financial stability. If his assertions are factual, it’s visible to believe that the incoming administration, armed with a stronger economy and greater financial resources, is well-positioned to continue the progress made under Weah’s leadership and steer Liberia towards a brighter future.
Liberia is expected to witness a peaceful transition of power tomorrow, January 22, 2024, as Mr. Boakai takes over the West African state for the next six years.
