Monrovia – Liberia’s economy is in a terrible state as the incoming government prepares to assume power amid expectations from grass root business people.
The implementation of policies to revitalize the economy is crucial and it is becoming an even more daunting task for the incoming administration to fix the problem.
At various market places across the country, concerns are becoming consistent, as local business people call on the government to stabilize the exchange rate, which they assert, would help improve the domestic business climate for small business owners and improve consumers’ purchasing power.
FrontPageAfrica has been speaking to several retailers at the Red light Market in Paynesville City.
Peewe Smith, Shoes Retailer
“Business is not easy this time. Three months ago, things were fine but this time no way because of the Exchange rate. Now if you go to buy your goods, the U.S rate US$130 or US$131 so we can’t really afford now to buy what we used to buy before.
When we try to complain, they usually tell us that the U.S rate is too high. My recommendation to the new government is to drop the prices of commodities on the market and reduce the U.S rate.
Another thing the new government must do is to create more jobs for the young people to help reduce poverty in the country, because things are very expensive and the common people cannot afford to provide for themselves”.
Daniel Paye, Used Tires Retailer
“We were buying the Wheel barrow tires for LD$450 but the price has increased to LD$650 because of the U.S rate. So, the U.S rate is really embarrassing us. I want the new government under the leadership of George Weah to try hard and reduce the prices of goods, regulate the exchange rate and improve the economy for better living condition.
He should not listen, all the time to people for judgment. Let him stand by his words and mean what he said. We, the business people are suffering too much so let him focus on agriculture, rice price now has increased and no stable price for anything in our own country”.
Ericson Sengeal, Backpack Retailer,
“I am not getting anything good like profit from this business because of the exchange rate now in the market. The U.S rate is really suffering us and making things very difficult for us in this country to the extent that you will go in the market to sell but nobody will buy from you.
I want the new government to drop the U.S rate and bring companies in the country to provide job for us to reduce the poverty for us the poor people that sell before we can put food on the table for our family”.
Jack Teah,
“Since the elections, business has been very difficult. At times when we go and buy our goods and sometime goods is spoiled and then when you carry it back to change for them to change it they can refuse and tell us to carry them anywhere we able to carry them and we the business people, we don’t have patient to go to court even though it is our right to go to court.
I am appealing to the new government to help business people have duty free. If you have a duty free things will come in, citizens will be able to sell and be able to pay taxes to government.”
Paul Karmoe, Imported Clothes,
“Customers are willing to buy but when we charged them the price, they go away because of the U.S rate. We buy in the store at the exchange rate of $ 135. The U.S rate is greatly affecting our business to the extent that when even if you reduce the rate in Liberian dollars they (customers) can still complain and go away.
I want to really appeal to this new government to help create new business programs for us to help boost the country’s economy. Because when you create more programs to empower local business it helps improve the business sectors.
Again, let the new government focus on new business strategies, like giving out more micro-loans, build more markets and business sites to give easy access to our business so that customers can easily locate us.”
Sarah Porter, Used Clothes,
“When people come buy this business, when we call he price to them because of the way we can buy in the store, they always complain of the price Because of the exchange rate, customers highly buy from us these days.
I want the CDC government to really help us to empower commerce, finance and other business institutions to help build the country’s economy. This issue of the U.S rate is highly troubling especially when you are buying in U.S Dollars and selling in Liberian Dollars. So, I am appealing to the CDC government to help us the business people drop the U.S rate or create another way that the LD and U.S be one-one”
Kumba Fayiah,
“Actually, the U.S rate is giving us (Business people) hard time because when we go buy goods in the store with Liberian Dollars, the whole sale dealers don’t even hold it except you change the Liberty to U.S Dollars and the exchange rate is very high.
I want the government to do something about this U.S. rate to help the business people make small profit to feed our children. For some of us, we are not going to school, neither working with government or NGOS so we are heavily depending on our little businesses to survive.”
Cynthia Dahn,
“We are buying our goods in high U.S rate and the U.S rate is very high. I believed that if the U.S rate drop things price will reduce and it will provide opportunity for everybody to afford to get profit on their business and put food on the table for their family.”
Grace Teah, Fruits Retailer,
“Business is not really moving (Customers are not buying) due to the lack of money and because the U.S rate and the prices are high. We want the Central Bank of Liberia (CBL), Ministry of Commerce and Ministry of Finance to make things straight for us. When the U.S rate is high, you will find commodities price high.
My recommendation to the new government is to reduce commodities price, reduce school fees and especially the health sector, there is no free hospital and our people are dying”.
Christine K. Richards,
“People are not really buying our business because when you charge them they complain that the price is too high, and it is truth because of the U.s rate and the way we are buying the goods.
Now, everybody is complaining on (about) the US rate so I think the new government, upon taking office should reduce the exchange rate to help improve the business environment for us. If the U.S rate come down things will not be difficult, things will not be high and businesses will move smoothly.”
Mamie Cephas,
“Business is slow because of the buying rate (U.S Rate). So, I want for the new government to really reduce the U.S rate or try to make the LD and USD one-to-one to help improve the economy in the country. Another thing the new government needs to do is to regulate the U.S Dollars flowing in the market, beginning with high restriction on the Central Bank of Liberia on foreign exchange.”