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Claim: Liberia’s former Finance Minister, Samuel Tweh, claimed that the former CDC government inherited an International Reserve of USD$100 million.
Verdict: False! The Central Bank of Liberia’s 2017 annual report reveals that the international reserve stood at US$499.7 million.
Full Text
Liberia’s former finance minister, Samuel Tweah, has claimed that the former Liberian president, George Weah’s administration, under the Coalition for Democratic Change (CDC), inherited an international reserve worth USD$100 million.
“We inherited the international reserve at US$100 million and left it at US$220 million,” Tweah stated one minute and eight seconds into the radio show “Good morning Liberia.”
Weah’s government under the CDC was sworn into office on Jan. 22, 2018, and ended six years later after Weah failed to win a return bid at the 2023 polls. Meanwhile, Tweah served as Liberia’s finance minister under Weah’s administration
His comment was carried live on several online platforms, including Global News TV and DTV Online
DUBAWA decided to verify the claim as part of its mandate to counter misinformation and disinformation and promote truth-telling in public discourse.
Verification:
DUBAWA checked the Central Bank of Liberia’s official website for the 2023 annual report. The Central Bank is the Liberian government financial arm.
Affording to page 29 of the report, the country’s 2017 international reserve was worth US$499.7 million.
“Liberia’s gross international reserve position including SDRs and Reserve Tranche at the end of December, 2017 decreased by 15.0 percent to US$499.7 million, from US $ 588.0 million recorded at the end-2016.”
Conclusion:
Based on the Central Bank of Liberia’s 2017 annual report, the former Finance Minister’s claim is false.