The Chairman of the Senate Committee on Ways, Means, Finance and Budget Prince Moye has raised eyebrows over the allocation of US$118 million proposed in the Draft National Budget for Fiscal Year 2026 by the Government of Liberia (GOL) for the payment of domestic debts to vendors and others in the country.
It can be recalled that the government, through the Ministry of Finance and Development Planning (MFDP), recently submitted a Draft Budget of US$1.2 Billion for FY2025 to the National Legislature for ratification, in keeping with the Public Financial Management (PFM) law
But speaking when he appeared as guest on State Radio ELBC 99.9 on Monday, November 17, 2025, Senator Moye disclosed that the allocation for the payment of domestic debts would be thoroughly scrutinized by the budget committee.
He observed that for the past six years, Liberia's domestic debt portfolio continues to increase.
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He attributed the situation to the unscrupulous habit of some individuals (who he did not name) to institute lawsuits against the government to pay false "old debt" claims.
Senator Moye claimed that some of these domestic debt claims being raised for payments are dated as far as 1974, and as such, the Senate would vet the names of businesses and individuals and their services rendered to the government before making any appropriation.
He pointed out that the Senate would not allow the MFDP to use its own discretion for the payment of domestic debts without accompanying documents, including the names of descriptions of services rendered by these vendors and others.
He noted that this is also intended to prevent duplication in the payment of domestic debts to vendors and others by the government.
Senator Moye further stressed the need for the government to place a ceiling or benchmark on domestic debts in the country.
"We will be vetting the US$118 million placed in the draft budget. We have come to realize that the debt business has been purchasing old debts and cleaning it up through the court system and putting it on the government's head; this has been the business of some individuals. You saw that our debt portfolio went up very high, we have to take a decision as a country and have a stop order," Senator Moye maintained.
He emphasized the legacy of domestic debts being incurred by Liberia must be halted because many individuals continue to use the court system to amass wealth through the payment of unsubstantiated legacy debts to them by the government.
"We can't keep burdening the country with things that will not benefit the future generation of this country through all kinds of means. This is something we have to look at and open our eyes. Foreign debt is something around US$56million," he added.
Senator Moye asserted that despite the action taken by the government, through the General Auditing Commission (GAC) to cancel the payment of domestic debts to scores of institutions and individuals, more needs to be done to prevent increase in domestic debts payment through the national budget in Liberia.
He said the increase in recurrent expenditure in the draft national budget is due to the incorporation of foreign loans and domestic debts borrowed to Liberia.
"When you take the loans, they are going to be reflected in your budget in terms of payment. The budget is recurring but you will have actually done development with it," he stated.
He made specific reference to the US$83million borrowed from the Central Bank of Liberia (CBL) by the administration of former Liberian President George Manneh Weah for the payment of civil servant salaries.
He pointed out that the Unity Party led-Government has been construed to pay back the loan credited.
Senator Moye indicated the need for the government, through the National Legislature, to conduct an investigation to safeguard its monetary policy to meet international standards.
"That was a bad precedent. I am wondering how you will credit US$83million from the CBL just to pay one month's salary to civil servants," he said.
He mentioned that lawmakers remain under obligation to ensure that loans taken by Liberia are used for the benefit of the citizenry.
Senator Moye averred that future Liberian governments and the unborn generation should not be subjected to paying loans that did not yield any fruitful benefits to the nation and its citizens
Senator Moye said the government should restore trust and confidence in the financial and other sectors of the country.
"We (government) have taken responsibility for settling that obligation with the Central Bank of Liberia and all other debts that we acquired in all kinds of ways because, government is continuity," he intoned.
On PSIP
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Speaking further, Senator Moye said the need for an increment in the allocation of Public Sector Investment Project (PSIP) in the draft budget.
He said the allocation must be increased from US$281million to over US$300million to ensure that Liberians benefit from direct infrastructural developments and investments to be carried out by various line government ministries, agencies and other institutions in their various communities.
He, however, challenged authorities of the Ministry of Finance and Development Planning and the Liberia Revenue Authority (LRA) to carry out additional awareness on the significance of paying taxes, and how the various allocations in the national budget could affect and improve the living conditions of citizens across the country.
"Your taxes will work for you when you pay; when you spent less hours from Monrovia to go to Maryland, Zwedru and other places, when you see feeder roads being paved, ambulances mounted at various health facilities to take pregnant women to the nearby hospital very fast for safe delivery, and potholes are being fixed by Public Works, you know exactly that your money or taxes are working. We will vet the budget to ensure that the right things are done," he said.
