Liberian President George Weah of Liberia on Monday pledged to cut his salary by 25 percent. “The state of the economy that my administration inherited leaves a lot to do and to be decided,” the former international soccer star said. Currently, the President of Liberia earns about $100,000 yearly, meaning that Weah will relinquish about $25,000.
“Our economy is broken; our government is broke. Our currency is in free fall; inflation is rising,” Weah said. “Unemployment is at an unprecedented high and our foreign reserves are at an all-time low”. Weah had promised a crackdown on endemic corruption as he was sworn in a week ago as cheers of thousands of exuberant supporters crammed into a stadium in the capital, Monrovia.
“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,” Weah said, pledging the savings to a development fund for Liberia.
