The Governor of the Central Bank of Liberia, Alloycious Tarlue, has acknowledged the cash balance announced by former President George Weah during his final address to the nation.
Before his departure, former President Weah disclosed to the nation that he left a total cash balance of US$40,375.90 million in the Government’s Consolidated Accounts.
President Weah recounted that back in 2018, he and his government inherited a consolidated cash balance of over US$7 million from former President Ellen Johnson-Sirleaf.
The former Liberian leader also told the nation that his government inherited over US$94.9 million in net international reserves, and handed over to the new administration US$222.7 million, which amounts to 136% increase.
Contrary to his disclosure, current Joseph Boakai informed the nation in his first state of the nation address on January 22, that the balance was US$20.5 million, not US$40 million, as stated by former President George Weah.
President Boakai said the net international reserves position reported at the end of December 2023 was US$220 million.
“The report of US$40 million as the GoL’s consolidated account balance as of January 19, 2024, is not supported by the fact. The balance reported by the CBL as of the same date was US$20.5 million, highly encumbered, NOT US$40 million. To this end, we re-emphasize our earlier commitment to audit and ensure that regular audits will be a culture across all branches of government, not only the Executive”, but he also said.
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