Despite becoming Chairman of the politically-troubled Collaborating Political Parties (CPP) when trust, respectability and confidence would appear to be at loggerheads, while internal wrangling has presented itself as a critical quandary to overcome, the new experienced an politically-tested Chairman in a relaxed mood and a focused mind, is set to amicably deal with all prevailing obstacles and situations tearing the CPP apart including the burning aspect that weighs profoundly on the livelihoods of the citizens in such a difficult time.
However, a statement issued on Monday, October 25, 2021 by the Executive Committee of the CPP describes as quite surprising to hear the Minister of Finance, Mr. Samuel Tweah speak of achieving single-digit inflation in an environment of induced appreciation of the Liberian dollar against the US dollar.
This, accompanied by the rapid eroding of consumer purchasing power is simply a sophisticated and well-orchestrated deception taking place before our very eyes. “Mr. President, the Liberian people deserve better living conditions than what they are now experiencing after all your campaign promises; regardless of how economic data and the facts are twisted, the average Liberian knows what it means to be hungry and deprived”, the statement maintains.
The people in basic terms, do not need anyone to tell them that as the local currency in which they trade and their salaries are paid appreciate, the prices of food items (especially their staple, rice), gasoline, transportation fares, school tuitions and fees, among others, are expected to reduce, the statement said.
Politics and economics are immiscible. Unfortunately, while our people suffer the excruciating effects of this economic contradiction, some officials and apologists of the CDC government are rather celebrating the suffering of the Liberian people. How can they claim that they are doing a good job when our people are crying this much? Wonders the statement.
It can be recalled that when officials of the CDC Government were actively seeking legislative approval for the printing of additional Liberian dollar banknotes, they promised that this would bring to end, once and for all, this recurring last-quarter nightmare of shortage of Liberian dollar banknotes at the commercial banks and in the market.
The Legislature must give back the operational independence to the CBL that allows the CBL to print Liberian- dollar banknotes in line with economic fundamentals and stop using the current approval process negotiations every time the CBL come seeking approval to print.
The statement also urged for the honorable thing to be done by the LEGISLATURE, by ad-dressing ambiguities in Part II Count 2, Counts 6B, 6C, and 6O; Part V Count 23 (1 and 2); and Article 34 (D) of the Liberian Constitution and ultimately amend the October 21, 2020 Amended CBL Act to restore CBL to normalcy and alignment with international and regional best practices. This should then pave the way for the appointment of competent and professional Liberians with track record in the business of monetary policy design and implementation to sit on the Board including Senior management of the CBL.
The CPP therefore demands that the CDC Government fulfills its promises and urgently put an end to this exploitative and anomalous economic situation.
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