Despite the Ellen Johnson-Sirleaf Administration's much publicized attainment of debt waiver from international partners and friendly countries, the Liberian Senate Committee on Banking and Currency, has uncovered huge debts owed by the government.
What is this? Come on President Johnson Sirleaf, were are we going now? How
can Liberia sign a millions of dollars in oil deal and still fall back into
debt? I bet you guys enjoy owning Western Countries just to outsource our
natural resources for cheap prices huh.
When Sen. Nyenabo and company are approving expenditures for frivolous
projects that are not self-sustaining; when Sen. Nyenabo is approving crazy
salaries for himself; when the senator is approving funds for vehicles,
generators, and their repairs, he should also look at the budgetary line
for the "Source of Cash."
GDP = G + C + I + (X-M)
“G” for government spending is “way..waaaayyyy” out there.
“C” for total consumer consumption is low primarily due to
expropriation of cash by Liberian leaders like the senator themselves.
“I” for business investment. What Liberian-based business has the
senator invested in since 1847?
(X-M) for the net of exports and imports. What export business has the
legislature encouraged so that the net is favorably?
Without such commitments and policies by the legislature, we’ll always be
in debt and the “DEBTOR” belongs to the “CREDITOR.”
The oil deal has not been ratified, so we haven't received the $50m funds
yet for block 13. Once ratified, the proceeds can go to paydown debt or
supplement our budget. I find it comical that people complain and say we
should not sign up this oil deal and that the $50m is a small amount, but
then in the same breadth complain our debt is too high.
Liberia: Liberia Sinks in U.S.$579.2 Million Debt
The New Dawn (Monrovia), 14 March 2013
Despite the Ellen Johnson-Sirleaf Administration's much publicized attainment of debt waiver from international partners and friendly countries, the Liberian Senate Committee on Banking and Currency, has uncovered huge debts owed by the government.
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What is this? Come on President Johnson Sirleaf, were are we going now? How can Liberia sign a millions of dollars in oil deal and still fall back into debt? I bet you guys enjoy owning Western Countries just to outsource our natural resources for cheap prices huh.
When Sen. Nyenabo and company are approving expenditures for frivolous projects that are not self-sustaining; when Sen. Nyenabo is approving crazy salaries for himself; when the senator is approving funds for vehicles, generators, and their repairs, he should also look at the budgetary line for the "Source of Cash." GDP = G + C + I + (X-M) “G” for government spending is “way..waaaayyyy” out there. “C” for total consumer consumption is low primarily due to expropriation of cash by Liberian leaders like the senator themselves. “I” for business investment. What Liberian-based business has the senator invested in since 1847? (X-M) for the net of exports and imports. What export business has the legislature encouraged so that the net is favorably? Without such commitments and policies by the legislature, we’ll always be in debt and the “DEBTOR” belongs to the “CREDITOR.”
The oil deal has not been ratified, so we haven't received the $50m funds yet for block 13. Once ratified, the proceeds can go to paydown debt or supplement our budget. I find it comical that people complain and say we should not sign up this oil deal and that the $50m is a small amount, but then in the same breadth complain our debt is too high.