The Liberian Economy is on the Right Path- Growth is a Certainty!

I don’t want to be accused of blasphemy neither do I  want to be heretical. I, however, must be truthful and honest - blaming the CDC-led government for Liberia’s economic malaise is like blaming Jesus Christ for the sins of the people he came to rescue. This government is not responsible for the present worrisome performance of the Liberian economy. The issues of budget shortfalls, bloated wage bill and uncertain performance of the Liberian dollar have been issues which confronted our economy in past years. For whatever reasons, however, past governments were either nonchalant or relied on “ budget support” from international partners.  The reason for these shortfalls are clear and simple: our economy has been pillared on a shaky foundation. 

Yes, our land is rich in mineral resources. But, interestingly, our former leaders saw our mineral resources as inexhaustible gifts from God. They entered into agreements with no thoughts of value added. This aside, they pillaged our resources, paid no attention to infrastructural development, forgot about training, did not care about education and saw no need for the diversification of our economy. They opened experimental agricultural stations with no intention to utilize the lessons learned. They talked about self-sufficiency in food production but used our land to grow and sell rubber. In simple and bold terms, they were not aspirational neither were they bright. They went even further with the very nonsense that saw their demise. Yet, their blind loyalists continue with the illusion that they were the angels sent from heaven and with their removal from power “God” left Liberia. What a sickening thought! 

Think about this- at Bridgestone Firestone plants in the USA and other parts of the world over 140,000 persons are hired.  These people are involved in high-skilled jobs and earn more than 200 times the typical Firestone Liberia worker - the tapper-laborer. At Firestone Liberia, the workforce stands at fewer than 6,000. Can you imagine this?   Did our leaders think about a plan that would have seen Firestone diversify and go into the manufacturing of tires and other rubber related products? Was there a chance to demand such when the extension to the 99 years agreement was consummated? Oh, yes!  Why didn’t our leaders do it? The answer is simple- they cared more about their pockets than about the ordinary people. 

And, Firestone saw and knew it. They knew that our leaders didn’t care. Firestone, at least to its credit, decided to diversify. Their mode of diversification was alone the ugly contours of the harvesting and trading of raw material. Firestone saw the “rubber wood” industry as a low scale job-creating investment and went for it.  Now, we are told the initial projection of Firestone was wrong. But, again, wanting to outsmart our people, Firestone is refusing to accept its losses- It is attempting to transfer the losses to our already strained economy- layoffs and consolidation of positions. 

But, let's be fair- Firestone is not the only concession with such predatory business model in Liberia. All concessions agreements signed by previous government caved to these parasitical concessions- Bong Mining Company, LAMCO, NIOC, etc. They came, they looted our resources, give our “leaders” the crumbs and left our environment polluted and resources depleted. Now, some want to tell us about the “good old days”. They want us to believe that a certain group of our citizenry knew it all and when they left Liberia was doomed. Stop that! They did not know it all. They, in fact, lack the sophistication we have today to see the bigger picture and call it when we know it. 

Yet, there is another thing which is more scaring and mindboggling. New concession agreements signed by the Ellen Johnson in spite of the abundance of information failed to put Liberia first. Just ask people who once lived in Bong Mines. The Chinese were allowed to destroy everything the Germans built in their rush to engage in crude and obsolete forms of mining with the acquiescence of the Liberian government. And so, life in Bong Mines today is no way comparative with life when the Germans were there. Again, filling the pockets of a few trumped the interest of the people. Mind you, while the Chinese destroyed the facilities built by the Germans, the GoL was desperately looking for funding to build the Bong Technical College. Are you seeing where I am going? Just can’t understand how lackadaisical and insensitive our past leaders were. Even if the Chinese didn’t care could our leaders have cared? Was it hard to see that rather than destroying what was built at Bong Mines maybe renovating the facilities to be used as one of the campuses of Bong Technical College would have been the most logical thing to do? Yet, our immediate past president perambulates the world as a hero begging for international awards for things she accomplished only in her wildest imaginations.  Our past leaders failed us. They bequeathed to us a terrible economy. 

The CDC led government inherited a broken economy.  And now, they say the CDC- led government is responsible. How come? Here is the deal - our economy will bounce back. It will bounce back not because the fundamentals are strong but owing to the farsightedness of our visionary Leader, Dr. George Manneh Weah and his Economic Management Team under genius guidance of our young and unassuming Minister of Finance. 

This is why I dismiss as stupid, ludicrous, envious, childish and naive the claims that acceptance of an IMF program will not fix our economy. Yes, there will be hard times. But, who is more resilient than our people?  This storm will pass. The partnership with the IMF will lay the framework to advance the Pro-Poor agenda and realign our economy with our national needs, adjust to trends on the global markets, create opportunities for the improvement of our infrastructure, expand the training of a much more skilled and diversified workforce and lead to the creation of jobs through the emergence of a robust private sector. Not accepting the IMF program would have meant continuous travel along the torturous and perilous path of budget shortfalls, delay in salary payment, excruciating hardships for the downtrodden and the inability of the government to deliver social services. 

In short, the IMF restructuring is not a doomsday- It is a new day. The IMF-GoL Partnership is a win-win engagement and Liberians should be raining praises on President Weah who, unlike his predecessor,  is more interested in the wellbeing of ordinary Liberians than he is in winning international accolades. And, for a man born to win, I am not surprised. Dr. Weah and the Liberian people will win. Let the insults come. I am ready. I am hardened by the criticisms of the infantile opposition.