Indeed, The CBL Deserves Commendation
AT DAY THREE of the budget hearing taking place at the Capitol Building, Central Bank of Liberia, Governor Joseph Mills Jones has clarified to members on the Ways, Means and Finance Committee that the US$22.5m given out to the private sector is meant to make an intervention to the economy for growth and development.
DURING HIS PRESENTATION yesterday to explain the revenue components of the 2013/2014 draft budget, Dr. Jones said the CBL has not received money from the budget but instead it has contributed US$20m to government during the period under review for developmental purposes.
CBL JONES GUIDED by his financial lieutenants told the committee that the CBL does not pay interest rate on government’s deposit but provides balances to the Ministry of Finance on a daily basis.
COMMENTING ON THE breakdown of the amount, Governor Jones disclosed that US$7.5m has been disbursed to agriculture, US$10m to mortgage and US$10m was given out as loan. This in total is US$22.5 made available to the private sector which is considered as the ‘engine of growth”.
HAVING HEARD WHAT the CBL boss has said to members of the Legislature, we think the bank through the able leadership of Dr. Mills Jones has done extremely well in empowering Liberians especially the ordinary Liberians who were deprived in the past.
DR. JONES AND his team must be commended because in recent times, many people had criticized the Central Bank boss for dishing out money to Liberians, describing same as being politically motivated.
NOW THAT DR. Jones has explained to the Legislature by referring to the committee members to part 2, count 3, count 4, number 4 and 3 of the CBL Act which authorized him to do so, let us now rest the accusation and support the CBL in its empowerment process to benefit ordinary Liberians.