Economic Freedom Fighters damns resource swap agreement

The Economic Freedom Fighters of Liberia or EFFL frowns on the Government of Liberia’s Natural Resources swap agreement signed with China Roads and Bridges Corporation.

In a press release, EFFL says it is deeply troubled about the US$2.5 Billion agreement that would commit the Government of Liberia to swap the country’s natural resources in exchange for infrastructural development.

Last Tuesday, Finance and Development Planning Minister, Samuel Tweh disclosed that Liberia has signed to an agreement giving the natural resources including Mount Wologizi to a Chinese firm for 2.5billion dollars and the Chinese will be allowed to do feasibility study on mineral values. But EFFL describes the deal as an unwise decision that shows lack of leadership and patriotism by the administration of President George M. Weah.

The release notes that upon assuming office in January this year, the government’s investment policy has taken on the tone of loans, plunging the country into 3.5billion debt that Liberians are unable to pay as a country, noting that there has been no generally and internationally accepted bilateral investment agreements signed with acceptable standard.

“We can now safely say that the sole focus of the Weah Presidency and investment policy is to make Liberia indebted. The $2.5 Billion cash deal termed by this administration as natural resources swap is a debt trapped that can potentially damage our economy forever and make us indebted to China with the potential of seizure of our natural resources and ports and in the case with Djibouti, Maldives, Madagascar, Zambia and Ethiopia.”

EFFL expresses concern about the danger ahead as the country’s future is hugely at risk when leaders prioritized certifying personal resource mobilization ambition of the President and embarked on a self-centered agenda.

It recalls that Liberia lost millions of dollars during the regime of former President Ellen Johnson Sirleaf from the Oil sector through NOCAL when TB Noble sold Liberia’s potential Oil Data to companies for fifteen (15) million dollars and the country only received three (3) million from each set of data sold. “Even up to now the Database NOCAL is using to attract investors to the Oil sector is owned by a private company and not the state which is also creating huge losses on the part of the country”, the release concludes.

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