The plenary of the House of Representatives has cited the Governor of the Central Bank of Liberia (CBL) to appear before the full body on Thursday, February 1, 2024 to address circumstances regarding how much was left in the Central Bank of Liberia (CBL) reserve by the immediate past government.
President Joseph N. Boakai on Monday, during the State-of-the-Nation Address (SONA), disagreed with former President George Weah that he left US$40 million in the country’s reserve. President Boakai stated in his annual message that he met US$20.5 million in the CBL reserve, instead of the US$40 million announced by former President Weah.
The decision to have the CBL Governor invited was based on a communication written by Margibi County’s district #2 Representative, Alvar Jones, seeking the indulgence of his colleagues to probe how much was left in to the consolidated account by the past government.
“Honorable Speaker, my communication is induced by the Former President of the Republic of Liberia H.E. George Manneh Weah’s last address to the nation on January 21, 2024, in which he said “…and I am handing over to the next administration net international reserve position of US$222,700,000 (two hundred twenty-two million seven hundred thousand United States dollars). The total cash balance in the Government’s Consolidated Accounts is US$40,044,365.90 (forty million forty-four thousand three hundred sixty-five United States dollars and ninety cent). This statement is not being concurred with by his successor, President Joseph Nyuma Boakai Sr.,” the letter reads.
According to Representative Jones’ communication, in President Boakai’s first State-of-the-Nation Address on January 29, 2024, he said, “The net international reserves reported at the end of December 2023 was US$220 million. The report of US$40 million as the GoL’s consolidated account balance as at January 19, 2024 is not supported by the fact. The balance reported by the CBL as of the same date was US$20.5 million, highly encumbered, not US$40 million.”
Following the reading of the communication, a motion was made by Representative P. Mike Jury of Maryland County to have Governor Tarlue invited on Thursday.