Finance Minister Tweah, New U.S. Ambassador Rap on Development Potential in Liberia
Monrovia – The United States Ambassador assigned to Liberia, Michael A. McCarthy has lauded President George M. Weah and the government of Liberia for the economic and developmental strides made amidst what he termed as “daunting challenges”.
Speaking during a meeting held at the Ministry of Finance and Development Planning on Friday, February 5, 2021, the US envoy admonished the Liberian government to deal with concession agreements and contracts in a delicate manner so as to avoid reputation issues for the country, which could hinder investment opportunities. He noted that issues of contract enforcement, policy stability and predictability is key to improving the business and investment climate to boost investors’ confidence while attracting additional investments to the country.
Ambassador McCarthy also noted that Liberia’s fight against corruption will be further enhanced when practical and concrete steps are taken beyond legislative enactments. He added that taking concrete steps is the best way to counter perception of corruption. The US chief envoy to Liberia additionally stressed the need for more political will to be exerted to ensure that the Liberia Electricity Corporation (LEC) becomes a viable revenue generation entity.
For his part, Minister Tweah expressed gratitude to the government and people of the United States for their continuous support and acknowledged Ambassador McCarthy’s views on the need to enhance anti-corruption measures, but assured that Liberia is doing all to solidify the fight against corruption thereby instituting appropriate measures which will help improve transparency and accountability. He referenced the proposal by President Weah to create a fast track court for corruption related cases and a pending Judicial Conference as major steps in that direction.
He also agreed with Ambassador McCarthy on the need to carefully deal with concession contracts, indicating that contractual agreements between Liberia and investors will also address the principles of equity and fair play. He further mentioned that modalities are been worked out to ensure the viability of the Liberia Electricity Corporation, noting that the LEC remains vital to Liberia’s economic development drive.