Monrovia – In a recent social media post, former Finance Minister Samuel Tweah reacted to his indictment by the Joseph Boakai administration, asserting that a thorough audit of both the previous and current governments would uncover significant financial malpractice tied to the ruling Unity Party (UP). Tweah specifically urged for an audit of the Central Bank of Liberia (CBL) and the Consolidated Accounts, alleging that the UP had borrowed hundreds of millions without public disclosure.
Tweah disclosed that these debts remained hidden until the International Monetary Fund (IMF) mandated the George Weah administration to acknowledge the UP’s liabilities in Liberia’s official debt statistics. “Yes, it had to take the IMF to force us to include this borrowing in Liberia’s official debt statistics. More than US$300 million in borrowing with no financial record,” he stated.
He emphasized that during his tenure, he resisted this concealment, but the IMF insisted that they do not differentiate between the UP-governed Liberia and CDC-governed Liberia.
In a compromise aimed at benefiting Liberians and adhering to the IMF program, Tweah revealed that approximately US$ 100 million was removed from the hidden debt stock, which continues to affect the CBL.
“The IMF said we could audit this ‘hanging debt’ at some future date, but the program had to go on! So, we included more than USD 200 million,” he added, noting that the official records support his claims, with the IMF as a witness.
In light of these revelations, Tweah has called upon the National Legislature to investigate what he describes as the “recordless borrowing from the CBL by the UP.” He acknowledged that under President Weah’s IMF program, borrowing was halted, earning high praise from the international community for three consecutive years.
“We had to borrow to pay government workers in an election year, and there will never be a finance minister who will not borrow from CBL in an election year if revenue is being challenged! So, bring on the audit debates, but do so factually and in an environment of law,” Tweah concluded, emphasizing the need for transparency and accountability in Liberia’s financial dealings.
