The Collaborating Political Party has expressed concern over what it calls “the scarcity of Liberian dollar bank notes” on the Liberian market.
According to a statement issued Monday October 25, 2021, that said after the CDC-led government conducted what they described as a controversial and fraud-laden US$25 million mop up exercise in 2018. The last quarter of each year since then has been characterized by a strange scarcity of Liberian dollar bank notes on the market and a corresponding precipitous drop in the Liberian Dollar-US Dollar exchange rate.
The statement noted that, not surprisingly, the nightmarish scenario has begun to raise its ugly head this year. This time around, it is the refusal of the government through the Central Bank of Liberia (CBL) to supply needed Liberian dollars, which has led to a complete shortage of Liberian dollars on the market.
The release also mentioned that this is not only counterproductive to the economic growth desperately needed, but it is broad daylight hardship being imposed on the people of Liberia by the CDC-led government.
“How can the government sit idly with such insensitivity to the Liberian people when prices of food, clothing and other essential commodities are still high while the Liberian dollar is appreciating? Our recent check on the CBL website shows that monthly data on inflation since June ending 2021 is yet to be published by the CBL. The CBL must wake up and not allow itself to be a puppet in the hands of politicians seeking their personal welfare over the Liberian people” the statement said.
The CPP statement continued, stating that one significant factor explaining this shortage of the Liberian dollar on the market during the last quarter of the year is the deliberate and intentional failure of the CBL to service Liberian dollar withdrawal demands of the commercial banks that are obligated to hold Liberian dollar current accounts with the CBL. This gross failure of the government to meet its commitments to the commercial banks consequently translates to the growing lack of confidence in the Liberian banking sector by the public.
They expressed their frustration over the Minister of Finance, saying that 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.
They also admonished the President that the Liberian people deserve better living conditions than what they are now experiencing after all his campaign promises.
They said, while the people of Liberia are suffering from the excruciating effects of this economic contradiction, some officials and apologists of the CDC government are rather celebrating the suffering of the Liberian people. Stating that how can they ( government officials) claim that they are doing a good job when our people are crying this much?
Meanwhile, the CPP has therefore demanded the CDC Government to fulfill its promises and urgently put an end to what they called “this exploitative and anomalous economic situation”. The CPP called on the government to stop seeking imaginary solutions to the challenges of the Liberian economy and instead focus on predictable actions and systemic changes that will improve the economic fundamentals of the country. These actions will include, inter alia, growing the productive sectors of the economy, improving service delivery across government, fighting corruption robustly and impartially, im- proving the security climate in the country including vigorously fighting ritualistic killings, supporting Liberian entrepreneurship in critical sectors such as agricultural value addition, and respecting the merit system.
At the same time, the CPP has condemned what the described as the government deliberate refusal to allow a helicopter belonging to the Political Leader of the People’s Liberation Party (PLP), Dr. Daniel Cassel, to land despite satisfying all of the requirements prescribed by the Liberia Aviation Authority.
According to them, the refusal infringes on the rights of Dr. Cassell and is clearly based on political grounds; it demonstrates how far this government is prepared to go to suppress the opposition.
They also called on the government to immediately correct its actions, which could set unintended precedences and have undesired consequences.