Minister of Finance Amara Konneh
Konneh Raps On Managing Ebola Economic Impact
By Wilfred Gortor/LINA
MONROVIA January 29 (LINA) - The Ministry of Finance employed stringent fiscal and economic measures to manage the impact of the Ebola virus on the Liberian economy, Minister Amara Konneh has disclosed.
As part of the measures, Konneh noted that government agreed to a 100 percent disbursement to the health sector and instituted a freeze on non-essential expenditures on vehicles, furniture and other equipments.
Konneh statement was contained in a presentation made Thursday at the Ministry of Information regular press conference held at the Ministry in Monrovia.
He indicated that a 40 percent cut in foreign travel and 25 percent drop in fuel and lubricant costs were part of the fiscal measures instituted by government to manage the impact of the Ebola crisis on the economy.
Konneh also said that US$73.1miillion was infused by government in the foreign exchange market to stabilize the exchange rate, while US$19 million was used to purchase treasury bills.
According to the Minister, in an effort to enhance banking sector liquidity, government paid a total of US$35.2 million domestic debt directly to banks, while US$219.4 million was expended from January to December 2014 to pay civil servants salaries.