Governor Weeks’ 1st 100-Days At The Central Bank of Liberia

CBL Board Member, Gov.Farhat (r), Director, Brown (L) at General Staff meeting
CBL Board Member, Gov.Farhat (r), Director, Brown (L) at General Staff meeting
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MONROVIA – August 16, 2016: The Executive Governor of the Central Bank of Liberia, Mr. Milton A. Weeks, has urged employees of the bank to keep the institution free of politics. Speaking Friday, August 12, 2016, at a general staff meeting, marking his first 100-days as Executive Governor, Mr. Weeks said the agenda during his tenure at the bank would be non-political. He called on employees to join him in ensuring that the CBL is free of politics, especially as the country prepares for general and presidential elections next year.

 

 

Governor Weeks said his administration will be guided by the principles of integrity, efficiency and inclusiveness, to ensure that “we are not selective; that we’re transparent and that we are fair, adding, “We can only achieve that by building true inclusiveness.”

 

He told the staff that due to severe budgetary pressure, the administration adopted some austerity measures to cut cost, “because we came in to a situation where we were under severe budgetary pressure, in terms of us meeting our obligations under our budget.” Areas affected include spending on travel, training, and overtime.  Projected savings of nearly US $355-thousand is expected by the end of the year.

 

Governor weeks informed the staff that his administration has set a strategic direction covering the next three years to improve the bank’s overall performance and expand its capacity. The goals include a reform of the CBL, the financial Sector and Financial Inclusion.

 

In furtherance of the reform agenda, Governor Weeks said he will work to ensure that the autonomy of the Central Bank is restored. He recalled that certain amendments to the CBL Act in 2014, took away some of its autonomy. “We’re going to work assiduously to try to restore those, and, in fact, build on them because we are not where we should have been,” Weeks noted.

 

In separate remarks, the Deputy Governor for Operations, Mr. Charles E. Sirleaf, and the Deputy Governor for Economic Policy, Dr. Mounir Siaplay, expressed delight to be a part of the CBL team. They urged employees to continue to perform their tasks to enhance the performance of the Bank. “This is a new era; this is a new beginning for the Central Bank of Liberia, this is a time for new challenges; this is a time for people to step up to the plate. We are not saying you haven’t done it before, but you’ve got to move faster,” Deputy Governor Sirleaf urged the staff.

 

Friday’s meeting marked the first 100 days of the new Governor as head of the Central Bank of Liberia.

 

The occasion was also addressed by the Vice President of the Central Bank of Liberia Staff Association (CEBSA), Mr. Saah Roberts and the Director for Administration, Mrs. D. Sheba Brown, who assured the new Executive Governor of their support to ensure that his agenda for the growth and development of the Bank is realized.

 

The occasion was witnessed by members of the Board of Governors of the Central Bank, including Governor David M. Farhat; Governor Melisa O. Emeh and Governor Elsie Dossen Badio.

 

 

For further inquiries contact:

 

Cyrus Wleh Badio

Head of Communications

Central Bank of Liberia

Monrovia, Liberia

Email: wlevan1000@yahoo.com/wlehbad@gmail.com