LIBERIA: House Seeking Update On ‘Expunged’ ETON, EBOMAF Loan Deals

Flash Back: Members of the House voting in session

The House of Representative is looking into the communication from Representative Thomas Goshua, requesting the summoning of the Ministers of Public Works, Justice, Finance and Development Planning to clarify the status of the ETON and EBOMAF loan agreements.

Hence, its committees on Ways, Means and Finance, Public Accounts, and Judiciary have been by Plenary to review a letter from Grand Bassa’s District Number 5 lawmaker, and report in two weeks.

A year ago, President George Weah signed into law the ETON Finance Limited and EBOMAF loan agreements passed by the legislature in the tone of US$536.4 million and US$420.8 million, respectively, for the construction of major road projects across the country.

It can be recalled that Finance and Development Planning Minster Samuel Tweah hinted that the government was considering the cancellation of the two loan deals though he indicated that the government was committed to build roads, and “not stuck to any one contract.”

Notwithstanding, Rep. Goshua’s concern has been that “since the ratification of the loan agreements, the government, through the Central Bank of Liberia, has not received any amount from those institutions as per the agreement.”

It was stated also in his communication that when a loan follows the process of legislative ratification and subsequently receives the signature of the President, it is by all standards a law that is binding on the government.

Rep. Goshua believes that the legislature can possibly repeal these loan deals and return to status quo to direct energy to other things that will yield dividends to help resuscitate the current economic situation in the country.”

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