Liberia: Independent Economist Critiques U.S.$1 Billion Loan

Monrovia — An economics professor at the University of Liberia has urged the Government of Liberia to institute measures to curb illicit financial flow and reduce tariffs on goods and services if it would make any gain on the combined (nearly) US$1 billion loan deal. He also said the deals should not have been sealed. The Legislature, in June, ratified both US$536 million loan with a Singaporean firm ETON Financial Private Limited and US$420 million with Burkinabe company, EBOMAF. It also passed resolution urging President George Weah to get more of such loans.

The combined loan has attracted a barrage of criticisms from the media, opposition and international partners including the International Monetary Fund (IMF).

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