FOR A LONG TIME THE need for a specialized print media platform, to articulate the views of the business community, to promote local and foreign investments, as well as to report on government’s national development agenda has been lacking.
AS A RESULT OF THIS unfortunate situation of a biased information dissemination, information on the many strides and progress made by government to attract investors are often sabotaged by either the media or politicians. The main stream print and electronic media often overlook and politicize the tremendous progress made or on course, regarding economic recovery, growth and transformation in Liberia.
THE FARAFINA NEWSPAPER which is published by the Farafina Investment Group Inc, is therefore striving to make a difference by encouraging a journalism that focuses on the attainment of the country’s national development goals, promoting investments, creating an enabling environment for economic growth, progress in the commerce and industry arena.
IF ONE HIGHLIGHTS THE micro-economic and macro-economic sector of Liberia, one may realize that President Weah inherited an economy with an annual national budget of about half a billion dollars, about USD$500,000, which is hardly enough to meets its expenditure demands, especially in engaging in public sector salary payment, to implement infrastructural and human development projects such as paved roads construction, improving the health and education sectors, among others.
IT CAN BE RECALLED THAT the Government has launched an ambitious 5-Year development plan known as the Pro-Poor Agenda for Prosperity and Development (PAPD), which when fully implemented within the time frame will make Liberia jump ahead in efforts to attract investors and promote commercial activities in the country. It will give a significant boost to uplifting the standard of living, enhancing education and health, tourism and agriculture sectors as well as increase the country’s paved roads connectivity leverage.
THE GOVERNMENT OF PRESIDENT WEAH has also not given deaf ears to the issue of the constant devaluation of the local Liberian dollar currency on the exchange rate market with the U.S dollar. After rising to about LD$200 to be exchanged for one U.S dollar, new interventions in the monetary policy sector has brought it down to LD$l94 to one U.S dollar.
THESE NEW INTERVENTIONS in the banking sector had included the appointment of a new Central Bank Executive Governor, and the National Legislature’s approval of the printing of LD$34 billion new Liberian currency bank notes. This is expected to remove some of the impediments contributing to the high cost of living in the country that had included the shortage of Liberian dollars in the banking sector and the removal of torn or ‘tear-tear’ currency notes on the Liberian market.
FARAFINA IS ALSO PROUD to note that Government has made several interventions in the areas of investment promotions and making business easy, that has been engaged by the National Investment Commission (NIC) and the Ministry of Commerce that is often taken lightly.
THEY INCLUDES THE ONE-stop business registry, the organizing of seminars, education and trade fairs to guide the business community and investors. As backbones to the Liberian economy, agriculture and the development of agro-based industries are cardinal in the agenda of the Weah administration as they are engines for ensuring economic recovery and prosperity.
THIS IS WHY THE FARAFINA WILL continue to ensure accurate, objective and constructive reporting of the country’s development, business and investment promotions agenda. We will also accompany government in factual reporting of every aspect of achievements that may contribute to the attainment of the pro-poor agenda for prosperity and development.
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