Liberia: 90 Percent of Liberian Loans in Default

When they say they want "More Support to Liberian Farmers", it means that they (farmers Union Network) want the government to lend the farmers other people's (taxpayers) hard earned money to finance their risky farming business adventure.

But we all know that 90 percent of government loans end up in default. Remember how the Liberian government loaned US$2,274,400 to forty-six (46) Liberian owned "business"?? Guess what happened?

Most of the loan money end up in the hands of Dr. James Kollie (the Deputy Minister for Fiscal Affairs), his cronies, and his concubines!!

To make matters worse, 90 percent of these loans are now in default. And now that most of these loans are in default, who do think is on the hook to pay it back? The taxpayers, of course..

Look, if the banks won't lend you money, find other means (Susu). But it's criminal for the bureaucrats in our government to use other people's hard earned money to underwrite loans for Liberian owned business! It really is.

Martin Scott

Atlanta, Georgia

See What Everyone is Watching

More From: FrontPageAfrica

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.