LINSU, IRGL Back CBL Loans Scheme

The Liberia National Students Union (LINSU) has backed the recently criticized Central Bank of Liberia(CBL) loan scheme saying the Executive Governor of the CBL Dr. Joseph Mills Jones is in the interest of improving the lives of the ordinary Liberians.

LINSU said "we believe that the Central Bank has a stake in creating opportunities to improve the lives of Liberians through stimulating the growth of the nation through the use of monetary instruments."

"It is evident that since Dr. Jones ascendancy as Executive Governor of the Central Bank of Liberia, he has worked more towards improving the nation's reserve. There is no point in time when Governor Jones has been placed on record for corruption or miss-managing tax payer's money. We believe that the reserve of a nation is worthless when its people languish in object poverty," LIUNSU in a release issues in Monrovia yesterday.

LINSU noted that there is a culture in Liberia which provides for potential state actors who are committed to working in the interest of the ordinary people to be misconstrued by those referred to as sentimental detractors. "We want to strongly caution political actors to refrain from politicizing the professional works of the CBL Executive Governor," the LINSU said.

The LINSUI said "the student movement is highly conscious of the results of Governor Jones work on Liberia and the lives of the ordinary people since the inception of his stewardship as Executive Governor of the Central Bank of Liberia."

Concluding LINSU said "We call on the Hon. Liberian Senate to stay clear of blending the Governor's work with politics and inform them that the student movement will officially accompany the Governor to the Capitol grounds tomorrow to showcase to Liberia and the rest of the world that enough is enough."

In a related development the Consortium of Right Groups in Liberia (CRGL) comprises of the five civil society organizations. Namely; Coalition of Youth & Students to Enhance Peace and Democracy in Liberia, Citizens United Against Bad Labor Practice, Women of Substance in Liberia, Association of University Students for the Promotion of Good Governance and Youth Action for development is commending the Governor of Central Bank of Liberia (CBL), Dr. J Mill Jones for the level of support he has given to the business community in the country.

According to a release the group is also commending the CBL Governor for his numerous supports to the youth and student community of Liberia as it relates to the provision of scholarships and other opportunities aimed at enhancing their livelihoods.

The group noted that as civil society groups in the country, they are moved by Governor Jones and the CBL decision to empower Liberians in order to acquire better living conditions and rebuild their war-ravaged country.

"We want to call on politicians to desist from politicizing development that is greatly imparting the people of Liberia. We are aware that as the nation move toward the special election in 2014, politicians want to scores political marks at the determent of the masses," the group said.

"We also want to state that the CBL is in no error and has violated no law governing that entity. As a matter of fact, the CBL Act gives right to the governor to give out loan to Liberians business community and other institutions in the country," the group said.

The consortium said Part ll, paragraph 2e of the CBL Act, gives right to the bank to "stimulate economic growth through the use of monetary instruments.

"Part ll, paragraph 3e, provides that the bank "foster monetary, credit and financial conducive to orderly, balanced and sustained economic growth and development," they noted.

The group noted that Part ll, section 4, paragraph 3 of the CBL Act, also give right to "provide credit to bank-financial institutions on a discretionary basis."

"Although the Legislature has the oversight responsibility as provided by the Constitution of Liberia to counter-cheek the Executive Branch of Government, but we want to draw the attention of the Liberian Senate to the level of work being performed by the CBL under the stewardship of Dr. Mill Jones worth commendation," the Consortium said.

"Therefore, we are calling on the Liberian Senate to put aside personal sentiments as it relates to the working of the CBL and continue to support the bank and its management as they move the country in the direction of economic growth and prosperity," the Consortium concluded.