Liberia’s new President George Weah has ordered a review of concessions entered into by previous administrations, the presidency said in a statement on Wednesday.
Weah orders review of Liberia's concession agreements
The statement said a committee would “review and ensure that all contracts entered into by the government of Liberia and concessionaires are executed according to agreed principles in accordance with the laws of Liberia.”
The nine-member panel will also determine if the government’s partners in those agreements had been fully implemented and met their performance requirements.
During the 12-year rule of Weah’s predecessor, Ellen Johnson Sirleaf, the government attracted around $15 billion in foreign investment, according to a finance ministry report.
However, the West African nation has been criticised by watchdog groups for signing away much of its public land to logging, palm oil and natural rubber companies.
Sirleaf’s government sought to develop iron ore deposits and the offshore oil sector.
Since his inauguration as president, Weah has made headlines for the unconventional directives he has made to fulfil his campaign promises of reviving the economy and combatting corruption in the country.
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George Weah’s presidency so far
January 22: Weah sworn in as president of Liberia, promises a pro-poor governance system
January 22: Weah makes first cabinet appointments, including two allies of former president Ellen Johnson Sirleaf
January 26: Weah directs government institutions and agencies not to spend more than $3,000 for operational expenses
January 29: Weah pledges to take a 25% salary cut, says Liberia is a ‘broke’ country
January 29: Weah proposes constitutional reforms to allow foreigners apply for Liberian citizenship and own land
February 7: Weah withdraws nomination of ‘corrupt’ and disbarred lawyer for justice ministry
February 14: Weah orders review of Liberia’s concession agreements