14 Jan

LMA Prez Wants Gov’t to Tackle Dual Currency Issue

first_imgThe president of the Liberia Marketing Association (LMA), Madam Lusu K. Sloan, has called on the government to address the issue of dual currency in the country.  Madam Sloan made the call, recently at a roundtable symposium on the economic and constitutional implications of Liberia’s dual currency regime in Monrovia.  The round table discussion was organized by the Governance Commission in partnership with the Constitution Review Committee, and it brought together several state actors from public and private sectors.  According to Madam Sloan, business women and petty traders are calling for local business transactions to be done in Liberian dollars.  She said local traders are not making profit because they are buying their goods in US dollars from foreign importers and selling them in Liberian dollars.  As a result, the LMA president said, local traders, especially market women, are selling without adequate income from the business to better their living conditions.  She stressed that dual currency is causing instability of the Liberian economy and not improving the livelihood of local marketers or the economy.  The LMA boss highlighted that dual currency is increasing countless problems as many schools are charging fees in US dollars, instead of in Liberian dollars. “We actually want the government and those that are in charge to look at the situation carefully; we are selling our goods and services in Liberian dollars, but some schools are charging fees in US dollars. I don’t think it is supposed to be that way. You can’t have your school in Liberia and charge the parents in US dollars,” she said.Madam Sloan indicated that foreign importers are taking excess US dollars from Liberia to develop their countries, while Liberia remains under-developed.  “Buying in US dollars from the importers, selling the goods in Liberian dollars and at the end of the day you have to change the Liberian dollars to US dollars to re-buy drops the profit margin. So you see, more money is going out of the country on a daily basis, because they come here to look for US dollars to carry it,” the LMA president asserts.  She wants the government to monitor the behavior of importers toward retailers to enable the local traders to profit from their businesses.  Madam Sloan said the National Legislature in collaboration with the relevant authorities should put in place policies to stabilize the Liberian dollar on the market, adding that it is losing its relevance.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

28 Nov

TNT seeks 2-0 cushion

first_imgThe Texters can run with the Beermen when Smith is on the bench, but when the import is in the game, Racela always calls for Smith to have a touch inside, creating problems for San Miguel’s defense.Sports Related Videospowered by AdSparcRead Next WATCH: Firefighters rescue baby seal found in parking garage The rookie coach will almost always clam up when asked about situations in his team—even if the situation he is being pressed about is something major. Like, say, import Joshua Smith’s state of health.And no one seems to mind. What’s important is that his brilliant mind is delivering and he has allowed his team to take momentum in this best-of-seven series not a few have predicted the Beermen will dominate with ease.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSMalditas save PH from shutoutLeo Austria, meanwhile, is the exact opposite and talks at length whenever asked.“We have less than 48 hours to realize what’s going on,” Austria said, not referring to anything specific after his Beermen trailed most of Wednesday night before failing to cover Smith effectively at winning time. Don’t miss out on the latest news and information. Heart Evangelista admits she’s pregnant… with chicken Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games World’s 50 Best Restaurants launches new drinking and dining guide Heart Evangelista admits she’s pregnant… with chicken 1 dead in Cavite blast, fire “But definitely, we will make the adjustments,” Austria said.Racela may contemplate on adjustments and convince people he will be busy working on them, but the burden of coming up with new strategies lies heavily on Austria in the 7 p.m. contest slated at Smart Araneta Coliseum on Friday.“We need to contain their perimeter shooters,” Austria said as TNT’s outside guns pelted them with the baskets that mattered in the crunch, with Jason Castro’s triple in the dying seconds putting the Beermen in a 102-99 hole.TNT managed to gut out the win despite playing Smith sparingly—torn ligaments in the import’s right foot make him a liability when the game’s tempo picks up.When he is on the floor, however, Racela has made it sure that the Texters can maximize his imposing 6-foot-9, 330-pound presence in the shaded lane.ADVERTISEMENTcenter_img Filipino fighter Yabo looks for redemption in ONE Championship MOST READ Lacson: SEA Games fund put in foundation like ‘Napoles case’ LATEST STORIES TNT KaTropa head coach Nash Racela. PBA IMAGESNash Racela’s young coaching career in the PBA has been predominantly marked by two things: Safe answers during interviews and success.“We will make the adjustments for Game 2,” Racela, with a straight face, said Wednesday night, looking and sounding like he and his TNT KaTropa were the ones on the losing end of a 104-102 decision over favored powerhouse San Miguel Beer at the start of the PBA Commissioner’s Cup Finals.ADVERTISEMENT Jordan delivers on promise: 2 Cobra choppers now in PH View comments What ‘missteps’?last_img read more