By: Togba-Nah Tipoteh
It should come as no surprise to anyone that loans and corruption do not mix. When there is no program in action, as in Liberia, to end corruption, then any loan to any corrupt entity promotes corruption. More food to the greedy makes the greedy greedier.
Therefore, the news that there are more loans coming to Liberia is not good news. It is bad news because Liberia’s total debt level is already USD2.58 billion (WB and IMF, 2024. This debt level makes Liberia a medium-risk country with a GDP to Debt Stock ratio of 56.65%, placing Liberia on the way to becoming a high-risk country that has a GDP to Debt Stock ratio of 60% or more. Clearly, such a GDP to Debt Stock ratio is unsustainable.
So, any talk about getting loans from the IMF would not be forthcoming under its Debt Relief Policy. The continuation of the borrowing in the face of corruption is not only vexing but remains Business as Usual. Any action to improve Liberia’s economy has to be firmly anti-corruption oriented.
Currently, there is a major anti-corruption struggle between a National Legislative entity and high-level State personnel. This struggle has spread to the public, with a widespread comment by the Chairperson of the ruling State political party. One does not know when this struggle will end.
But from the end of the Community, awareness raising has led to the non-re-election of nearly all of the National legislators of Liberia who wanted to be re-elected through the Election of October 10, 2023.
Some persons with good records were not re-elected and others were not elected because this is a process and not an event. This trend is highly likely to continue in the ensuing elections. It will continue because the awareness raising through the Rule of Law is motivating people to take actions to transform the unfair prevailing electoral system to the fair enduring electoral system. It will continue until the Legislators with good records who want to be re-elected and the candidates with good records who want to be elected are re-elected and elected, respectively.
It is only through this transformation that led the National Elections Commission (NEC) of Liberia, the supervisor of elections in Liberia, to conduct nearly fair election on October 10, 2023. It is only within this transformation that persons with good records can be elected in Liberia and in any other country.
