President Sirleaf's Nominee for CBL Deputy Governor for Economic Policy says he is up to the Task

Monrovia, Liberia - The Deputy Governor for Economic Policy designate, Dr. Mounir Siaplay, has confidently told lawmakers he is up to the task, as he seeks their approval in confirming his nomination for the post.

In a recent statement to the Senate Committee on Banking and Currency, Dr. Mounir Siaplay, Deputy Finance Minister for Economic Management, said he comes to the post with the requisite qualification and experience, which will enable him deliver to expectation.

According to an MFDP release, the Deputy CBL Governor for Economic Policy designate told lawmakers vetting him, that consistent with the organic law of Liberia, he was highly grateful for the opportunity to appear before the Senate’s Committee on Banking and Currency at the National Legislature.

“I would also like to express my deepest gratitude to Her Excellency Madam Ellen Johnson-Sirleaf, President of the Republic of Liberia, for affording me the opportunity to serve my country in two capacities…,” he told his cross-examiners.

Prior to his appointment as Deputy Finance Minister for Economic Management, Dr. Mounir Siaplay served as Economic Advisor to President Sirleaf.

“I can assure you of my academic preparedness for this position, having earned a Ph.D. in Economics from the Oklahoma State University; a Master of Science degree in Agribusiness and Applied Economics from the North Dakota State University; and a Bachelor of Arts degree in Economics and International Relations from the Concordia College,” he told the lawmakers.

As Deputy Finance Minister for Economic Management, the nominee said he worked closely with the CBL team to negotiate the package of support that Liberia received year-on-year from international financial institutions. He named the institutions as the African Development Bank (AfDB) to which he is Liberia’s Alternate Governor, the World Bank (WB), and the International Monetary Fund (IMF) and others.

According to Deputy Minister Siaplay, the MFDP and the CBL worked closely on Liberia’s Extended Credit Facility program with the Fund as well as the Rapid Credit Facility through which the Fund provided financial support to the Government’s fight against the Ebola Virus Disease (EVD).

On some of his contributions, Dr. Siaplay said “I Co-Chaired the Technical Liquidity Management Team, comprising the MFDP and the Central Bank of Liberia, whose objective is to formulate policies to address Government’s short-term operation and cash management needs, and to mitigate exchange rate risks.”
Continuing he said “My cordial relationships with CBL colleagues on the committee helped to ensure the strong coordination between the fiscal and monetary authorities to navigate such macroeconomic crises during the EVD outbreak.”

He believed such strong CBL-MFDP collaboration fostered macroeconomic stability during the EVD crisis, and formed the basis for “my work as one of the key architects of the Government of Liberia’s Economic Stabilization and Recovery Plan (ESRP), the country’s roadmap to post- EVD economic recovery.”

The President’s nominee also cited his input to revamp the country’s Macroeconomic Policy Analysis Center (LIMPAC), the Government’s think-tank, adding “I also initiated a research seminar series in the Department of Economic Management, which currently informs the policy-making process at the Ministry of Finance and Development Planning.”

“If I am confirmed as Deputy Governor for Economic Policy, I hope to foster an even stronger relationship between the CBL’s Economic Policy arm, the MFDP’s Department of Economic Management, LIMPAC and Liberia Institute of Statistics and Geo-Information Services (LISGIS) to further advance the Government’s efforts toward self-reliance in the area of data collection and analysis,” Dr. Siaplay said.

He indicated that his experience working as Deputy Minister for Economic Management afforded him the opportunity to understand and collaborate closely with the monetary authority to formulate evidence based policy to support the implementation of the Agenda for Transformation and the Vision 2030 with the aim to propel Liberia to the Middle Income Country status by 2030.

“If I am confirmed by this Honourable Body, I will work to ensure that matters relating to research and policy advice are adequately developed. Working with other key stakeholders in the economy, we will develop do-able policies to maintain macroeconomic stability – that is having stable exchange rate and low inflation,” he told his examiners.

The Deputy Governor designate pledged to liaise with regional institutions to inform management on matters pertaining to the West African Monetary Agency, the West African Monetary Institute, the ECOWAS Commission, the West African Institute for Financial and Economic Management, to support Liberia’s regional cooperation goals if confirmed.

“Honorable Senators, if I am confirmed as Deputy Governor for Economic Policy of the Central Bank of Liberia, I can assure you that I will work in accordance with the standing policy of the Bank and support its distinguished leadership and staff in accelerating the implementation of its existing activities and programmes.”