‘Gov’t Need to Redouble Its Efforts to Build Vibrant Private Sector’

first_imgThe Central Bank of Liberia (CBL) has suggested that the Government redouble its efforts aimed at building a vibrant private sector through, among others, the provision of strong credit support, especially to the agriculture, services and manufacturing sectors in order to ensure a better growth performance and stronger support for Liberian entrepreneurship.“It would accelerate job creation and the realization of Liberia becoming a middle income country in line with the Government’s Agenda for Transformation (AfT),” said CBL its 2015 policy statement, released earlier this week. “We also intervened in the real sector through credit easing and credit guarantee, especially for the rubber and housing sectors; and rolling over microfinance payments under the credit unions and village savings and loan associations operating in rural Liberia, affected by the Ebola crisis,” the statement noted.Credit easing is a policy tool used by central banks to make credit more readily available in the event of a financial crisis. Credit guarantee, however, is the guarantee that often provides for a specific remedy to creditor if debtor does not return the debt.According to the report, they (CBL) have observed that the just ended Ebola outbreak, which plagued the country, last year exposed the structural weaknesses of the Liberian economy; highlighting the compelling need for a more concerted effort to restructure the economy. The statement places greater emphasis on value-addition mode of domestic production, especially in the agriculture and manufacturing sectors.“It is important to note that the economy is estimated to grow under one percent for 2014 and 2015, and although projected to rebound and average around 5.0 percent growth in the medium term (2014-2020), it is by far lower than the pre-Ebola (2006-2013) growth of about 8.0 percent,” the CBL explained. The statement noted further that such growth trend is inadequate to create significant employment and make a positive change in poverty reductions.Accordingly, “there is a need for appropriate macroeconomic management tools to promote diversification for more inclusive growth and development in the country,” the CBL said.Mr. Jefferson Kambo, Officer-in-Charge of Research at the CBL, explained to the Daily Observer via phone that if iron ore and rubber can be processed into steel and tires (respectively) in Liberia, this would help to “modify our growth so that the growth would be sustainable.” According to him, Liberia has good soil, yet, “We are still importing rice. We need to put our efforts together to transform our economy by producing our own product here.”Also, the CBL’s eight-page policy statement discloses that the Bank is working to develop an appropriate framework that involves private investors to finance agriculture and housing.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Always Game

first_imgThere seems to be no pressure when Lackey stands in the center of the infield, surrounded by a stadium of fans. There is only an increase in intensity when the stakes are high and the challenge is the toughest. “He’s not scared at all,” catcher Mike Napoli said. “He wants that. He wants to be that big-game pitcher. He wants to be out there and be the one that can say he was there for that big game and took it home.” When the American League ERA title was there for the taking during his last start of the season last week, Lackey pitched seven shutout innings and took home the honor. When the Angels failed to clinch the division in their first two tries, Lackey shut down the Mariners on Sept. 23 and the champagne started flowing. Already with a successful start in Game 7 of the 2002 World Series on his resume, Lackey has built his big-game credentials. And he’s tough. After Oakland’s Jason Kendall charged Lackey on the mound last season, the next time Lackey faced the A’s it was pure vengeance. Lackey retired 27 consecutive batters, missing a perfect game only because he gave up a leadoff double. Lackey continues to brush aside those feelings of panic that can humble even the best of players. He has a 1.88 ERA in three previous Division Series outings (two starts). He has a 1-1 record and a 3.75 ERA in two American League Championship Series games. And there was the huge effort against the San Francisco Giants in the 2002 Series as a rookie. “I’ve been in enough (big games) that I know you can’t get too excited about it,” Lackey said. “You have to do what brought you here. You have to be able to execute pitches. You’ve got to get beyond all the flyovers and the pregame stuff. Once you get between the lines, you’ve got to make pitches.” His manager, Mike Scioscia, caught Orel Hershiser during the right-hander’s record-breaking 1988 season, so he knows a thing or two about outstanding starters. And he puts Lackey up there with the best of them. “(Lackey’s) one of the best competitors I’ve been around in 30-plus years,” Scioscia said. “And I think his ability to slow the game down on the mound has developed from the time he was a rookie to where he is now. He’s channeled his emotions into something that’s positive out there to get to the next pitch.” Experience figures to be a wash today in Game 1. Josh Beckett has big-time playoff and World Series credentials after pitching the Florida Marlins to the title in 2003. Beckett pitched a five-hit shutout to finish off the Yankees in Game 6 of that World Series. Lackey will use his World Series experience to gain any advantage he can. “It’s definitely something I can draw upon,” Lackey said. “I’ve pitched in a few playoff games and that’s obviously the biggest one. My mind-set in that game, when I was a rookie, was that I was coming up with a lot of veterans. I was just hoping to contribute. I wasn’t going to try to do too much.” Against Beckett, he figures to take on more responsibility. “He’s been in these games just like I have and done extremely well,” Lackey said. “I mean, throwing a shutout to win a World Series, it doesn’t get much better than that. He’s obviously got great stuff and it’s going to be a great challenge for us. I’m going to have to pitch well to give our guys a chance.” But as focused as Lackey can be, on occasion he can also appear distracted by his moods. When the Angels were in Boston last, Lackey was certain he would pitch against Beckett in the second game of a doubleheader that would have Cy Young implications. The matchup didn’t happen and a disappointed Lackey was crushed for seven runs (six earned) and 11 hits in four innings. It was just one of a number of rough starts against the Red Sox. So, many of the questions in Lackey’s interview session Tuesday centered around his 1-6 record and 6.27 ERA against the Red Sox in his career. He is 1-4 in Fenway Park with a 7.68 ERA. “They’ve obviously got a great lineup and a good team,” Lackey said. “But I’m not going to look too far into that and I’m certainly going to show up (today) and give it a run. I think we have a good team, too. And if I pitch up to my capabilities, I like my chances against pretty much anybody.” doug.padilla@sgvn.com160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! By Doug Padilla STAFF WRITER BOSTON – If John Lackey was standing on a mound, it’s likely a roaring lion or a charging rhinoceros would not even earn a flinch. This guy needs a safari hat and an elephant gun since “Big Game” is the most appropriate tag for the right-hander, whose safe haven has been a hill of dirt 60 feet, 6 inches from home. last_img read more