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Monday, November 11, 2024

Analysis: Same Actions, Different Presidents

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By John Morlu

In 2019 and 2020, I had a bitter exchange with the now disgraced Finance Minister Sam Tweah over the independence of the Central Bank of Liberia, particularly removing the CBL governor from the economic management team. Arrogantly, Tweah insulted me, giving all kinds of bogus economic theories to support why the CBL governor should remain on the EMT.

In the end, he caved in, and I won the day. Weah finally called me and got my advice. Weah sided with me and removed the CBL governor from the EMT. I went to UVA and obtained a degree in economics, so I know central banking, but inexperienced Tweah tried to Google-argue with me but eventually lost.

In 2020, President Weah announced the removal of the Central Bank of Liberia (CBL) Governor from the government’s Technical Economic Management Team (TEMT) to enhance the Bank’s independence.

That measure was to allow the CBL to operate without interference, focusing solely on monetary policy while leaving fiscal policy discussions to the TEMT.

The restructuring was part of broader efforts to strengthen the operational independence of the CBL and promote a stable macroeconomic environment.

Fast forward to 2024, Boakai has taken us back to Weah 2019, including the Central Bank Governor on the EMT, diluting CBL independence. Boakai has to move Liberia forward to sound financial management and economic governance. Boakai should do just as Weah did and remove immediately the Central Bank Governor from his EMT.

It’s poor governance at large and is setting Liberia backward, not forward.If Weah could listen to sound advice from a person like me who was battling poor governance in his administration, JNB, who I labored to bring to power, should at least listen. This is my fair assessment of the governance history, checkmating bad governance wherever and with whomever.

I would rather be excommunicated than just fit in and conform to bad governance. Boakai has to do better than Weah.

To date, I don’t see any change in approach to governance between Boakai and Weah. Let someone prove me incorrect.

Facts: Weah muscled Governor Weeks and Charles Sirleaf from office against the law governing removal. Boakai is muscling Governor Tarlue and targeting the deputies from CBL, yet again, against the removal clause in the CBL Act, and some intellectually dishonest and anti-Weah Liberians are rejoicing.

Facts: Weah, Boakai, and Sirleaf want their yes men at Finance, Comptroller General, LRA, and CBL. Same actions, different Presidents. I call it like I see it.

Facts: Weah, Boakai, and Sirleaf are all wrong on good governance.

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