IPNews-Monrovia: Unimpeachable source in the corridor of the Executive with close proximity to President George Weah, has hinted IPNews that President George Manneh Weah, is to shortly name Augustus Tailu as new Central Bank Governor.
The anticipated appointment of Tailu according to sources was made know by the President in a meeting with Board of governors earlier this week.
Not much is known about Augustus Tailu, in the financial market.
Several weeks now following the resignation of Nathaniel Patray as governor of the Central Bank of Liberia, speculations has heighten of notable names being vetted to replace the outgoing CBL governor who has been rocked in allegation of misappropriation of the 25 million United States dollars intended mop-out excess liquidity of Liberian dollars on the Liberian market .
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.
Recently President George Manneh Weah, accepted the resignation of Central Bank of Liberia (CBL) Governor, Nathaniel R. Patray.
The former CBL Executive Governor resigned on October 24, 2019 with immediate effect.
Patray resignation followed President Weah’s recent pronouncement at the United Nations General Assembly, that he would restructure the Central Bank of Liberia towards tackling the Country’s economic challenges.
President Weah profoundly thanked Mr. Patray for his services to the Government and people of Liberia, even though there are continuing contentions that he did little to settle Liberia’s messy economy.
Also, it may be recalled that President George Manneh Weah, has told a gathering of world leaders currently attending the United Nations General Assembly in New York, United States of America, that his government was currently undertaking a restructuring of Central Bank to gain greater Investment confidence through a more comprehensive reform process.
President George Weah stated that reform process which is underway focuses on the correction of imbalances in the leadership of the Central Bank of Liberia.
It may also be recorded, Liberian President, George Weah, on May 29, 2019, stated in a nationwide speech that governor Nathaniel Patray, would retire honorably due to age.
President Weah stated that the Executive Governor is scheduled for age-related mandatory retirement which would lead to a transition of the CBL to a new management.
The measure according to President Weah is intended to overhaul the Central Bank of Liberia, and restore confidence in an institution that has been beset by scandals and hampering efforts to deal with Liberia’s messy economic crisis.
However, the Liberian President informed members of the UN General Assembly that his government has taken other measures to addressing the worsening economic condition of Liberia, including investment confidence, by engaging the International Monetary Fund-IMF, into entering some of its financial programme.
The Liberian leader said as part of gaining greater investment confidence, his government is reorganizing the leadership and Management team of the Central Bank of Liberia to make it more efficient, independent and responsive to the growing issues monetary policy formulation and supervision.
Additionally, President Weah assured that as part of this overall economic reform process, his government has initiated a collective national approach to addressing key factors that undermine the Liberian national economic growth as evident by recent held national Economic dialogue which brought together the bright economic minds in chartering a new course of action for economic recovery.
