George Weah takes 25% pay cut due to Liberia’s "broke" economy

pulse-ghana admin

January 30, 2018 8:50 PM

President Weah has promised to take a pay cut due to Liberia's stuttering economy.

Liberia President

Addressing the nation on Monday, President Weah said Liberia is currently in a fragile economic state, describing the country as “broke”.

He warned that the public should hold realistic expectations, hinting that there could be tough times ahead.

“The state of the economy that my administration inherited leaves a lot to do and to be decided,” President Weah stated.

“Our economy is broken; our government is broke. Our currency is in free fall; inflation is rising. Unemployment is at an unprecedented high and our foreign reserves are at an all-time low.”

He has, therefore, pledged to take a 25 percent pay cut as he aims to salvage the country’s faltering economy.

According to him, a development fund will be set up to make sure every community in Liberia benefits.

“In view of the very rapidly deteriorating situation of the economy, I am informing you today, with immediate effect, that I will reduce my salary and benefits by 25 percent,” Weah pledged.

The former football star also promised to pump $3 billion into a coastal road project that would link the capital to its remote southeast.

This, he believes, will help boost the economy as well also lessen the poverty rate in Liberia.

“This is going to be very challenging. But I am convinced that with the assistance of friendly governments and institutions this can be achieved before the end of my tenure,” President Weah added.

pulse-ghana admin