$25 Million Mop-Up Report Expected May 20
The government of Liberia has announced that the investigation into the expenditure of U.S. $25 million – intended to mop up excess liquidity from the Liberian market – will be fully complete by May 20, 2019.
The Announcement comes a day after President Weah assured the Liberian Senate that the report from the General Auditing Commission (GAC) reference the US$25m to mop up excess Liberian dollars from the market is due soon
The General Auditing Commission, which is the body conducting the forensic audit as mandated by President George M. Weah, was initially given a two-week mandate to submit its report. However, at the commission’s request, that period was extended by an additional six weeks.
In keeping with the engagement procedure agreed upon for the conduct of the audit, the GAC is now holding “exit meetings” following the submission of its draft report on May 2, 2019. Hence, additional ten days have been granted the commission by the Ministry of Justice to allow for the full completion of the audit.
The Government assures the public of its determination to find the underlying cause of the matter and make the findings public.