Liberia gets third Central Bank governor in less than two years

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Liberian President George Weah appointed the former head of the country’s electricity regulator to lead its central bank, advancing his plan to overhaul an institution beset by scandals.

Jolue Aloysius Tarlue will take over from interim appointee Musa Dukuly as executive governor of the Central Bank of Liberia, if confirmed by the senate, according to a statement from the Presidency on Friday.

Former Governor Nathaniel Patray, appointed by Weah in July 2018, stepped down last month after Weah announced an overhaul of the central bank’s leadership to restore confidence in the institution. The presidency then appointed the bank’s acting director for economic affairs, Dukuly.

In July last year, Weah ordered a $25 million injection into the economy to mop up excess Liberian dollars. An investigation by the state auditor found that only $17 million was used for this purpose. A separate inquiry into the alleged disappearance of about $100 million in cash that was printed abroad found that while no money was missing, there were lapses in the accuracy and completeness of the central bank’s internal records.

.Bloomberg

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