Politics

Liberia’s President Joseph Boakai cuts salary by 40%

Published

4 months ago

July 7, 2024

Amidst the growing call for a significant cut in the cost of governance across the continent, Joseph Boakai, the President of Liberia, has declared a voluntary 40% cut to his pay.

This was revealed in a statement that was posted on the Liberian government’s website on Saturday and stated that the action was in line with Boakai’s dedication to national financial security and fiscal integrity.

This occurred a few days after a few lawmakers protested against the Ministry of Finance and Development Planning for failing to provide them with the funds for their tricycles, or “Keke,” by riding them to the parliament.

According to Boakai, the declaration demonstrates his resolve to set an example for improving public accountability and displaying citizen solidarity.

The statement partly read, “In fulfilment of his commitment to fiscal integrity and national financial security, President Joseph Nyuma Boakai, Sr.. has announced a voluntary 40% reduction in his salary.

“According to the President, the announcement reflects his determination to lead by example in strengthening government accountability and demonstrating solidarity with the people of the nation.

“The Liberian leader said the move is aimed at setting a precedent for responsible governance and nation-building.”

Furthermore, Boakai “has pledged to empower the Civil Service Agency (CSA) to ensure that workers receive fair compensation for their contributions to the country and that public servants’ salaries are in line with the current state of the nation.”

Boakai formally introduced the Employee Status Regularization Programme earlier on Thursday to improve payroll and employment transparency and accountability within the government. The initiative is a critical step in building a civil service that is more effective, responsible, and transparent.

According to a statement from the president of Liberia, the recently established ESRP entails a thorough staff headcount as well as a physical verification operation to find and eliminate unfit individuals and ghost identities from the government’s payroll.

Along with raising the pay of lawful civil personnel, the program aims to give competent professionals more chances to provide effective and efficient services. Boakai is currently in Nigeria for the 63rd Ordinary Session of the Authority of Heads of State and Government of the ECOWAS. Boakai succeeded previous President George Weah.

In a similar move, Kenyan President William Ruto on Friday suggested borrowing more money in approximately equal amounts and cutting spending to close a nearly $2.7 billion budget deficit left by his decision to back out of planned tax increases in the face of widespread opposition.

In reaction to widespread, youth-led protests that have precipitated the largest crisis of Ruto’s two-year government, the financial law including the tax increases was withdrawn by the president.

Related Topics:Cost of Governance Featured Liberia

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Politics

US requests probe into murders of two Mozambique opposition figures

Published

16 hours ago

October 22, 2024

Ifeoluwa Dada

The United States administration denounced the weekend deaths of two Mozambique opposition members, demanding a prompt and comprehensive inquiry ahead of protests against a disputed election outcome.

According to the US State Department website, the US is the largest bilateral donor to Mozambique, providing approximately $560 million annually in aid.

Washington, along with the EU and Portugal, condemned and demanded an investigation into the murders of opposition lawyer Elvino Dias and party official Paulo Guambe, who were shot in their car on Saturday.

“The United States condemns the killings of lawyer Elvino Dias and Podemos parliamentary candidate Paulo Guambe in Mozambique,” the U.S. State Department said in a statement.

“We join the calls made by all four of Mozambique’s national political parties in urging a swift and thorough investigation.”
In the capital Maputo, demonstrators gathering near the location where the two opposition party leaders were shot dead on Saturday following a contentious election were met with gunshots and tear gas by Mozambique police on Monday.

Early results from Mozambique’s general election on October 9 indicate that the ruling Frelimo party is projected to win again. The final results are anticipated this week. Candidates in opposition claim the poll was manipulated.

Since 1975, Frelimo has governed the southern African nation, and opposition leaders, civic society, and election monitors have accused him of electoral fraud. It refutes the accusations.

The State Department called on Mozambique’s political leaders, residents, stakeholders, and state institutions to settle electoral disputes legally and peacefully while avoiding inflammatory rhetoric and violence.

Politics

Again, Tunisian MPs want exclusive power of central bank over interest rates abolished

Published

3 days ago

October 20, 2024

Ifeoluwa Dada

A measure by MPs on Friday indicated that the Tunisian central bank will no longer be the only entity able to alter interest rates or the country’s foreign exchange policy; rather, it will be permitted to finance the government.

President Kais Saied, who has maintained that the central bank shouldn’t be a state within a state, has continuously criticised the action, which is the most recent that will destroy the bank’s independence.

The current dire state of public finances prompts the possible significant amendment to the central bank statute. The opposition has referred to Saied’s 2021 takeover of practically all power as a coup, and since then, the nation has been unable to obtain Western support. Saied ruled by decree.

If the bank law was not altered, 27 legislators issued a dire warning, stating that Tunisia would unavoidably go bankrupt.

They claimed that the state has suffered enormous losses, estimated at $36.6 billion, due to the present law passed in 2016 and prohibits the central bank from making direct bond purchases or loans to the public treasury.

Additionally, the measure suggests that the president must give his or her consent before the bank can make agreements with international supervisory bodies.

Saied said the central bank should lend directly to the state treasury rather than through expensive bank loans, rejecting the central bank’s independence last year.

To close a budget deficit, the administration requested in January that the central bank give the Treasury $2.25 billion in direct funding.

Marouan Abassi, the former governor of the central bank, has cautioned that purchasing Treasury bonds carries risks, such as increasing inflation and depreciating the value of the Tunisian pound. Saied replaced Abassi with Zouhair Nouri earlier this year.

The central bank has had total authority over reserves, gold, and monetary policy since 2016. However, the proposed statute demonstrated that the central bank might modify exchange rates, gold-related operations, and interest rates after consulting with the government.

The bill permits the central bank to purchase government bonds from banks and lend directly to the government up to 3% of GDP for bonds that have maturities longer than five years.

According to financial sources, the action will probably open the door for a fresh government request that the central bank grant the government loans and direct facilities totalling up to $2.6 billion.