House Speaker Bhofal Chambers is blaming former President Ellen Johnson Sirleaf for the bad ship of the economy, explaining that in the climaxing days of her presidency, madam Sirleaf allegedly created an economic gold lock.
Speaking with reporters Friday at the Capitol, Speaker Chambers says the Liberian dollar was printed in huge quantity by the Sirleaf regime and it has flooded the economy, chasing out the few United States dollars coming into the Liberian commerce and trade corridors.
He notes that the 53rd Legislature and other economic pundits warned the past government against printing new banknotes, but former President Sirleaf did not listen, thus contributing seriously to the present condition of the Liberian economy.
Speaker Chambers continues that the low security features on the new Liberian banknotes printed by Sirleaf regime, has given rise to the wanton counterfeiting of the Liberian dollar by unscrupulous individuals.
The Speaker is at the same time calling on government to withdraw the multiple local currency from circulation, adopt the United States dollars and subsequently introduce a highly sophisticated secured feature prone currency.
He maintains that a single currency regime for Liberian commerce and trade would be necessary preferably adoption of the United States dollars amidst the excruciating challenges the economy is faced with.
He stresses that until some radical decisions are made to curb the economic situation in the country, such as adopting a single currency, the woes would deepen.
The Maryland County lawmaker is however assuring Liberians that the economic issues the country is faced with will be overcome by the Weah Administration, as the government is now finding a lasting solution. He says the state of the economy is on course, adding that the economy is in the right direction and it’s just a matter of time.
By Bridgett Milton–Editing by Jonathan Browne