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President Weah pushes to tackle poverty in Liberia

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President George Weah

Liberian President George Weah has said he would 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.

President Weah said in an address to the nation “I am fully aware of the negative impact of the declining exchange rate on the economic well-being of the Liberian people, and the serious hardship that this is beginning to cause”.

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“We believe a more aggressive enforcement of monetary policy should go a long way to … address the problem,” including giving the central bank stronger powers to regulate money changers and banks, he said.

Weah 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.

 A former soccer World Player of the Year, Weah took office at the start of 2018 on a promise to stamp out corruption and end economic misery for millions of Liberians.

Civil wars in the small West African country killed hundreds of thousands of people between 1989-2003. As its economy was recovering, it was hit by falls in prices of its main exports, iron ore and rubber, and an Ebola outbreak from 2014 to 2016.

But the collapse in the currency since then has hit Liberians particularly hard, sparking protests by students.

Weah said the Liberian dollar had declined 25 percent over 2017 and a further 25 percent since January, blaming in part the end of Liberia’s U.N. peacekeeping mission in March, which had cut inflows of hard currency.

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Crime

French president pledges to oust anti-Semitism

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France President Emmanuel Macron has disclosed his intention to end anti-Semitism due to the  rate in which racism is growing.



When addressing the Representative Council of French Jewish Institutions (CRIF), he pledge to introduce legislation to oust hate speech and expresses his desire to cooperate with social media firms to identify the authors.

“Our country, and for that matter all of Europe and most Western democracies, seems to be facing a resurgence of anti-Semitism unseen since World War II,” Macron said on Wednesday.

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In addition he said “Behind the negation of Israel’s existence, what is hiding is the hatred of Jews.”

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French president added that anti-Semitism is based on “radical Islamism” as a rampant ideology in France’s multi-ethnic, poor neighborhoods.

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Crime

Fire out-break leave scores dead in Bangladesh’s Capital, Dhaka.

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Two source knowledgeable with the blaze that broke out on Wednesday evening has confirmed that the incident had claim at least 60 resident in Bangladesh’s Capital, Dhaka.



The fire fighter was seen struggling to bring the blaze under control as the fire wax stronger when it spread to surrounding house filled with plastic and gas cylinder.

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However, many of the bodies were burned beyond recognition, duo the authorities has disclose that DNA test will be conducted and has assure the resident that they will conduct an investigate the cause of the fire.

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President Abdul Hamid, Prime Minister Sheikh Hasina expressed deep shock at the incident and sympathy with the families of those killed in the fire.

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Home Minister Asaduzzaman Khan Kamal visited the scene and announced the formation of a committee to investigate the fire, which will submit its report within seven days.

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