The Liberian economy under the two years old Weah administration continues to experience downward trend characterized by hyperinflation, rising prices, falling revenue, cash shortage, lack of jobs and salary delay, among others. The unpleasant situation has inflicted excruciating psychological and economic pains on ordinary citizens.
Liberians ended 2019 with an acute shortage of cash in the banks, leaving depositors queuing at various commercial banks for money frustrated.
This country cannot afford to continue on this route with persistent retrogression. The government should rise to the challenge by introducing policies to revise the economy and restore confidence.
This 2020 provides a blank check for the government, ordinary Liberians and foreign partners to rescue the economy. Yes, this situation requires all hands on deck.
However, government is the main custodian of the economy and how it conducts the state of affirms would largely determine which way the economy heads. Needless to speak about the current downward trend with three-digit exchange rate, which clearly indicates how we are proceeding as a nation.
The Weah administration should calm the current political and public dissent in the country to restore investor’ confidence which would generate economic stability and growth.
The economy street on a very bad note in the new year characterized by street protest and violence, creating panic and uncertainty. It is regrettable and unfortunate that we started this way.
Growing disenchantment among ordinary Liberians over the dismal performance of the economy is not only self-inflicting but undermining economic prospects.
This should be reversed and the government must take the lead by initiating dialogue void of politics. In other words, we need to be brutally frank when discussing the issues that confront us as a country. President Weah should listen to critics, as his government and tolerate their views rather than branding those opposing his style of governance as enemies of the state.
This country risks going down the drain again like it happened during the civil war in the 1990s unless our leaders treat governance as a serious matter. The people have right to call their government to account whenever their wellbeing and happiness is threatened, as it is in the current instance. The President should exercise leadership by lifting the economy from its present state to give Liberians hope in this New Year.