Liberian president to tackle poverty and inflation

Liberian President George Weah (left) said he would seek to remove a "racist" clause in the constitution that restricts citizenship to black people. Picture: Xinhua/Terence Sesay

Liberian President George Weah (left) said he would seek to remove a "racist" clause in the constitution that restricts citizenship to black people. Picture: Xinhua/Terence Sesay

Published Jul 18, 2018

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JOHANNESBURG - Liberian President George Weah says he will take measures to tackle rampant inflation and poverty, including injecting $25 million into the forex market and taking steps to bring more local cash into the formal banking system, Reuters reported. 

The former football star said the injection of dollars would help mop up some excess Liberian dollars, adding that 90 percent of local cash in circulation was being held outside the formal banking system, where there was no oversight.

- African News Agency (ANA)

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