Former Foreign Affairs and Finance Minister Augustine Kpehe Ngafua has hailed imprisoned former President Charles Ghankay Taylor for protecting the integrity and dignity of the Central Bank of Liberia (CBL).
Speaking recently at a forum, Mr. Ngafua asserted that Mr. Taylor is condemned for many things that he did that were not right, but he says the former president is however commendable for protecting the integrity and dignity of the CBL.
Mr. Ngafuah recalls that Mr. Taylor ensured the passage of appropriate legislations to improve the soundness of the financial system here and to provide for the establishment of an independent Central Bank of Liberia.
He also highlights that Mr. Taylor selected astute and top-notch professionals to serve in the senior management and the board of the bank as required by the Central Bank Act to steer clear from national politics.
He continues that the Central Bank of Liberia under Taylor was widely regarded as an epitome of monocracy where honor graduates from the University of Liberia (UL) and other universities were recruited without political [alignment] and other preconditions.
“I commend President Weah for his recent State of the Nation Address committing his government to measures aimed at upholding the integrity and independence of the bank,” he notes.
Mr. Ngafuan expresses hope that the Weah-led government can muster the fortitude to stay this course, indicating that macro-economic refers to the behavior and performance of the economy as a whole and deals with aggregate variables.
Quoting IMF 2018 report, Mr. Ngafuan explains that micro-economics indicates that stability is a situation where these major aggregates grow or evolve in a steady and durable way, whereby inflation is under control, the financial system is sound … and the economy is resilient to shocks and is not likely to face crisis.”By Emmanuel Mondaye—Edited by Winston W. Parley