The newly-appointed Director for Mission to Liberia at the United Sates Agency for International Development (USAID) says Liberia’s development greatly relies on the private sector therefore; the government cannot operate properly by itself without the assistance of the private sector. Remarking Tuesday, August 13, 2013, at the opening of a two-week trainings organized by the United States Agency for International Development (IESC\IBEX program) in Monrovia for commercial bankers, SMEs and TOT, Mr. John Mark Winfield revealed that health, agriculture, education, energy among others are key sectors in the development of a country that cannot be done alone by central government. Said Mr. Winfield: “The development of Liberia like any other country is implacably linked to you. It’s linked to the private sector and its ability to make a contribution to the development of a country. It cannot do without investors; it cannot do it without strong business plans. We are supporting small medium enterprises because they are key to the development of Liberia.” Speaking behalf of the Central Bank Governor, the Director for regulation and supervision department at the CBL Mr. Mussah A. Kamara thanked USAID Liberia for its continue support to the rebuilding process of Liberia. Mr. Kamara said there is a need to improve the current credit culture that exist in the Liberian banking environment, noting that dealing with the problem of nonperformance loans and poor credit culture requires a comprehensive strategy to cleanup bank balance sheets and make them fully responsible for their lending operations. Said Kamara: “To achieve this therefore, the CBL has instituted and continues to institute series of measures to address the poor credit culture in the country. In this light, the CBL has issued a directive to banking […]