Excess Checks Issued By Past Gov’t Contradicts Ex-President Weah’s Claim of Leaving US$40m
A summary of commitment and approved expenditures released by the office of the Comptroller General of the Republic of Liberia shows that former President George Weah’s claim of leaving US$40 million in the Consolidated Account is inaccurate.
The summary which is in the possession of Verity News also captured ‘excess checks’ amounting to over US$7 million. The document also revealed a US$30.5 million total deficit to be financed by the new government under President Joseph Nyumah Boakai.
As of January 1–December 31, 2023, total revenue in the Consolidated Account (CA) in LRD and USD under President Weah accounted for US$34,559,688.24. Before the CDC-led government could expire in January 2024, cash balances from 2023 in the Consolidate Account reflected US$17,487,050.90.
This means the previous government brought US$17.48 million over to January 2024 from December 2023. An addition of approx. US$10 million in revenue (net inflow) was added which totaled US$27,424,981.88.
It’s established that the US$27.4 million was spent before President Joseph Boakai could assume office without financing excess checks, huge debts, and hanging commitments that are yet to be justified. According to the summary, President Joseph Boakai inherited a deficit of US$30,524,033.77.
The government through MFDP has begun servicing this huge liability/debt. Still, the government could pay far more if it defaults on the debts according to authorities at the Ministry of Finance and Development Planning.
