MONROVIA, LIBERIA – President George Weah has disclosed that the former Administration of Ellen Johnson-Sirleaf did not include in its debt statistics US$ 170.63 Million in domestic debt stock.
President Weah said: “This irregularity by the previous administration has now been corrected; the increase in domestic debt stock is meanly because of restructuring and consolidation of government’s debt to the Central Bank of Liberia”.
Under the IMF Supported economic program, the Liberian leader said government in now working to validate the stock of other domestic debt with the commencement of payment of domestic debt to stimulate the economy.
Speaking Monday, January 25, 2021, when President Weah delivered his Annual Messah at the 54th Legislature, said at the end of 2019, the total of public debt stood at U$1.28 Billion of which domestic debt amounted to US$419.8 Million while external debt amounted to US$862.8Million.
It is still unclear why the previous administration excluded such huge amount from it official debt statistics when it contracted such amount.