The Economic Freedom Fighters of Liberia frowns on the Government of Liberia agreement with a Chinese firm to swap the country’s natural resources for US$2.5 billion to fund infrastructure projects in the country.
EFFL says it is deeply troubled about the agreement, describing the move by the government as an “unwise decision that shows the lack of leadership and patriotism on the part of President George M. Weah and his CDC government.”
On Tuesday, September 11, 2018, Finance and Development Planning Minister, Honorable Samuel Tweah disclosed that Liberia has signed to an agreement giving the natural resources including Mount Wologizi to a Chinese firm and the firm will be allowed to do a feasibility study on our mineral values.
Upon assuming office in January of this year, the Weah’s administration investment policy has taken on the tone of loans plunging the country into 3.5billion debt that we are unable to pay as a country and there has been no generally and internationally accepted bilateral investment agreements of this administration signed with standard, the EFFL said in a press statement released over the weekend.
The group claims the government lacks the understanding of running a complex environment like Liberia.
“We can now safely say that the sole focus of the Weah presidency and investment policy is to make Liberia indebted,” the group said.
EFFL continued: The US$2.5 billion cash deal termed by this administration as natural resources swap is a debt trapped that can potentially damage our economy forever and make us indebted to China with the potential of the seizure of our natural resources and ports and in the case with Djibouti, Maldives, Madagascar, Zambia and Ethiopia.