President George Weah announces salary cut in light of Liberian economic situation
Newly elected Liberia president George Weah has revealed that he will take a 25-percent pay cut as the nation's economic standing continues to decline.
Former footballer and Ballon d'Or winner Weah was sworn in as Liberia president, replacing Ellen Johnson Sirleaf, on January 22 after winning last month's election.
On Monday, the 51-year-old revealed in a nationwide address that he was to accept a lower salary as Liberia's own financial situation deteriorates.
"In view of the very rapidly deteriorating situation of the economy, I am informing you today, with immediate effect, that I will reduce my salary and benefits by 25 percent," he began, as per Reuters.
"The state of the economy that my administration inherited leaves a lot to do and to be decided," the former AC Milan hitman added. "Our economy is broken. Our government is broke. Our currency is in free fall.
"Inflation is rising. Unemployment is at an unprecedented high, and our foreign reserves are at an all-time low."
While Johnson Sirleaf was commended for establishing peace in Liberia following the civil wars of 1989-2003, she largely failed to tackle corruption endemic among officials and the nation's political elite.
Another aim outlined by Weah is the construction of a $3 billion coastal road, linking Monrovia to the remote southeast of the nation.
"This is going to be very challenging," continued the former forward, who also played for Chelsea, Manchester City and Paris Saint-Germain, "but I am convinced that with the assistance of friendly governments and institutions this can be achieved before the end of my tenure."