IPNews-Monrovia: Liberian President George Weah has appointed the former head of the country’s electricity regulator Commission to lead its central bank, strategic advancement plan which has in recent beset by scandals and under expected performance.
President Weah, on yesterday, Friday, November 9, 2019, named Jolue Aloysius Tarlue as Executive Governor of the Central Bank of Liberia (CBL). Tarlue replaces Nathaniel R. Patray, III who resigned on October 24, 2019.
According to a Executive Mansion release, the President named the new Executive Governor of the CBL on November 8, 2019 following a comprehensive vetting process by a team of experts that he had set up.
Prior to his appointment as CBL Governor, the Independent Probe reported on Thursday, November 8, 2019, of the appointment Aloysius Tarlue, to the top CBL post.
According to IPNews, unimpeachable source in the corridor of the Executive Mansion with close proximity to President George Weah, hinted that President George Manneh Weah, was about to shortly name J. Aloysius Tarlue as new Central Bank Governor.
The appointment of Tarlue according to IPNews sources was made known by President Weah during a meeting with Board of governors earlier this week. However not much is known about Jolue Aloysius Tarlue, in the financial market, but the Executive Mansion says Tarlue has worked with a plethora of important banks and other financial institutions in the United States of America including J.P. Morgan Chase, BNY Mellon N.A., Deutsche Bank, Merrill Lynch and HSBC Bank N.A. amongst many other executive level financial establishments.
Tarlue is expected to lead a team of other governors in restructuring the Central Bank of Liberia to tackle Liberia’s challenging economy, yet, there are little information on his records in setting up difficult financial institutions.
Jolue Aloysius Tarlue holds MPA (specializing in Public Policy) from Kean University, New Jersey (USA) and BA in Political Science from the King University in Bristol, Tennessee (USA).
Jolue Aloysius Tarlue will take over from interim appointee Musa Dukuly as executive governor of the Central Bank of Liberia, if confirmed by the senate, according to a statement from the Presidency on Friday.
It may be recorded, former Governor Nathaniel Patray, appointed by Weah in July 2018, stepped down last month after Weah announced an overhaul of the central bank’s leadership to restore confidence in the institution. The presidency then appointed the bank’s acting director for economic affairs, Dukuly.
In July last year, Weah ordered a $25 million injection into the economy to mop up excess Liberian dollars. An investigation by the state auditor found that only $17 million was used for this purpose.
A separate inquiry into the alleged disappearance of about $100 million in cash that was printed abroad found that while no money was missing, there were lapses in the accuracy and completeness of the central bank’s internal records
.It may be recalled, notable names such as former Finance Minister and International Monitory Fund Executive specialist Antoinette Saye, Augustine Kpehe Ngafuan, Boima Kamara, James N. Davies, President of the Liberia Bank for Development and Investment-LBDI , were all lineup for the top CBL job.
