Monrovia – The Speaker of the House of Representatives, Dr. Bhofal Chambers has accused former President Ellen Johnson Sirleaf of being responsible for the current economic hardship the country is faced with.
According to Speaker Chambers, former President Sirleaf in the climaxing days of her presidency created “an economic gulag”, relating to a Soviet-style economic and militarily fashioned scenario, the purpose for compelling compliance on economic activities.
The Speaker said the Liberian dollars was printed in huge quantity by President Sirleaf regime and has flooded the economy chasing the few United States Dollars coming in the Liberian commerce and trade corridors. He says the past government was warned of printing new banknotes by the 53rd Legislature and other economic pundits, but President Ellen Johnson-Sirleaf did not listen, thus contributing seriously to the present condition of the Liberian economy.
Another indicator the Speaker proffered is the low-security features on the new banknotes printed by Madam Sirleaf’s regime, which has given rise to the wanton counterfeiting of the Liberian dollars by unscrupulous individuals.
The Speaker, however, stated his cognizance of Liberia’s balance of trade deficit but intoned that the country exports and imports imbalances cannot be singularly responsible for the current economic debacle.
Speaker Chambers says he wants government move and withdraw the multiple local currencies from circulation, adapts the United States Dollars and subsequently introduce a highly sophisticated secured feature prone currency.
The Speaker told the media gathering that until some radical decisions are made to curve the economic situation in the country, like adopting a single currency, the woes made deepen.
The Maryland county lawmaker however assured the Liberian people that the economic issues the country is faced with will be overcome by the Weah’s Administration, as a government is now finding a lasting solution to the situation. He further that the state of the country is strong and secured and wish the Liberian people a happy and memorable observance of the 171st Independence Day, come the 26th July 2018.