- Title: LIBERIA:BACKGROUND FEATURE - ECONOMY
- Date: 21st October 1996
- Summary: 1. EXTERIOR OF DAMAGED HOTEL 2. SQUATTERS 3. DAMAGED BUILDING 4. REFUGEES ON ROAD 5. CHILDREN IN STREET 6. EXTERIOR OF ROBERTS INTERNATIONAL AIRPORT 7. DESTROYED TERMINAL BUILDING 8. ABANDONED FACTORY 9. RUBBER TREE 10. EXTERIOR OF FIRESTONE PROCESSING FACTORY 11. PRESIDENT CHARLES TAYLOR SEATED AT CABINET MEETING 12. CABINET MEMBERS AROUND TABLE 13. FINANCE MINISTER ELIE SALEEBY AT TABLE 14. SALEEBY SAYING, "I HAVE NO ILLUSIONS THAT THIS IS GOING TO BE HERCULEAN TASK. IT'S NOT GOING TO BE EASY, IT'S NOT GOING TO BE DONE BY MAINLY OFFICIAL FLOWS, MAINLY. GOVERNMENT MONEY OR BILATERAL AND UNILATERAL AID. IT'S GOING TO BE DONE RELYING EXTENSIVELY ON THE PRIVATE SECTOR AS WELL, AND I THINK IT'S GOING TO TAKE A LONG, LONG HAUL. WE'VE ACTUALLY THROWN OURSELVES BACK, WE NEED A LOT OF LUCK TO GET BACK ON OUR FEET." (ENGLISH) 15. SALEEBY DURING BUSINESS MEETING IN OFFICE 16. SALEEBY SAYING, "WELL, I THINK LIBERIA IS GOING TO RECLAIM A LOT OF HER LEGACY IN BEING A FREE MARKET WITH AN OPEN-DOOR POLICY AND A PRIVATE SECTOR-DRIVEN ECONOMY, AND IT THINK THAT IF WE DO THE RIGHT THINGS, WE'RE LIKELY TO ATTRACT PRIVATE INVESTMENT AGAIN. WE COULD VERY EASILY FIND OURSELVES BEING THE TRADE CENTRE OF THIS PART OF AFRICA. IT'S A MATTER OF WHETHER WE GET OUT POLICIES RIGHT AND TAKE ADVANTAGE OF THE OPPORTUNITY THAT FATE HAS PRESENTED TO OUR DOORS." (ENGLISH) 17. SALEEBY SAYING, "WELL, INDEED IT IS BECAUSE IN MOST CASES YOU HAVE A WAIT-AND-SEE ATTITUDE. THEY WANT TO WAIT AND SEE THAT YOU DO IN THE FIRST SIX OR NINE MONTHS. WE'VE BEEN FORTUNATE IN THAT LIBERIA ENJOYS A LOT OF GOODWILL OUTSIDE WHICH I BELIEVE IT'S FOR US TO SOLIDIFY OR TO LOOSE AND I THINK THE EARLY ARRIVALS OF THE MULTINATIONALS HERE IS JUST A REFLECTION OF THE GOODWILL THAT WE ENJOY WORLDWIDE." (ENGLISH) 18. SHIPS IN MONROVIA PORT/ UNLOADING 19. PORT OFFICIAL SAYING, "THE TRAFFIC HAS INCREASED CONSIDERABLY WE HAVE HAD ABOUT 72 VESSELS CALLING HERE. IN THE LAST QUARTER, AND OUR PROJECTION IS TO HAVE AT LEAST 150 IN THE NEXT QUARTER. THIS IS THE HIGHEST NUMBER OF SHIPS SINCE THE WAR. WE HAVE RECEIVED 13 SHIPS IN THE LAST 5 DAYS AND THAT IS A REMARKABLE IMPROVEMENT." (ENGLISH) 20. CANNED GOODS ON SHELVES 21. INTERIOR OF SUPERMARKET 22. SUPERMARKET OWNER SAYING, "IT IS A GOOD SIGN, SO THAT MEANS THE SITUATION WILL BE ALL RIGHT IN FUTURE. WE SEE CUSTOMERS COMING IN EVERY DAY, AND PEOPLE ARE JUST FILLING UP THEIR STORES." (ENGLISH) 23. PEOPLE BUYING FOOD 24. SALEEBY SAYING, "A LOT OF THOSE LIBERIANS WILL BE LURED BACK BY WHAT THEY SEE AND WHAT THEY HEAR. I AM ENCOURAGED BY ONE THING - A LOT OF THEM HAVE HAD TO GO INTO THE PRIVATE SECTOR TO SURVIVE TO THE EXTENT THAT THEY GET ATTRACTED BACK WE ARE GOING TO HAVE A NEW CORE OF ENTREPRENEURS COMING BACK HOME." (ENGLISH) 25. CARS IN STREET 26. VARIOUS OF DAMAGED BUILDINGS NARRATION AT 10.36.20 to 10. 42.00 Initials Script is copyright Reuters Limited. All rights reserved.
- Embargoed: 5th November 1996 12:00
- Keywords:
- Location: MONROVIA, LIBERIA
- City:
- Country: Liberia AFRICA
- Reuters ID: LVAEQVZV61NPVU2ES1LYNEXFVU03
- Story Text: ------------------------------------------------------------ SUGGESTED NEWSREADER INTRO: After seven years of civil war, Liberia is slowly rebuilding is ravaged economy. But it will be a Herculean task, as the country's new Finance Minister freely admits. Reuters Television's Jeff Koinange reports from Monrovia.
------------------------------------------------------------ This is a former luxury hotel international hotel in the Liberian capital, Monrovia. Five-star service has been replaced by self service - the building is now home to hundreds of squatters.
They are the displaced victims of the recently-ended seven year civil war. It's a sight repeated throughout much of the country. An esitmated eight out of ten Liberians are in the same situation - refugees either in their own or neighbouring countries.
The human disruption is equalled by the collapse of Liberia's economy - once among the most vibrant on the continent.
This is what is left of Roberts International Airport - built in 1945 as a refuelling stop for allied planes during World War Two.
The runway is the longest in Africa - able to accomodate a Space Shuttle. Closed for years, it has just opened again - taking one international flight a week.
Factories, too, are in a similar state of disuse - many either abandoned by foreign owners or awaiting the chance to re-open. A few concerns have resumed operations.
Liberia is open to the world's largest rubber plantations - owned by the American company Firestone. Its processing factory outside the capital Monrovia has begun work again - but only at 20 percent capacity.
For newly-elected president Charles Taylor, the revival of Liberia's economy will be a major task. He's picked a team of technocrats and bureaucrats to help revive a country that all but died during seven years of conflict.
One of his top administrators is a 17-year veteran of the World Bank. 55-year-old Elie Saleeby is now Liberia's finance minister - and all too aware of the problems he faces.
-------------------- CAPTION: ELIE SALEEBY, LIBERIAN FINANCE MINISTER "I HAVE NO ILLUSIONS THAT THIS IS GOING TO BE A HERCULEAN TASK.
IT'S NOT GOING TO BE EASY, IT's NOT GOING TO BE DONE BY MAINLY OFFICIAL FLOWS, MAINLY GOVERNMENT MONEY OR BILATERAL AND UNILATERAL AID. IT'S GOING TO BE DONE RELYING EXTENSIVELY ON THE PRIVATE SECTOR AS WELL, AND I THINK IT'S GONIG TO TAKE A LONG, LONG HAUL.
WE'VE ACTUALLY THROWN OURSELVES BACK, WE NEED A LOT OF LUCK TO GET BACK ON OUR FEET." (ENGLISH) -------------------- Saleeby - who gave up a lucrative posting at the world's leading financial institution - says despite being written off by almost everyone, he believes Liberia will eventually recover and reclaim its lost glory.
-------------------- CAPTION: ELIE SALEEBY "WELL, I THINK LIBERIA IS GOING TO RECLAIM A LOT OF HER LEGACY IN BEING A FREE MARKET WITH AN OPEN-DOOR POLICY AND A PRIVATE SECTOR-DRIVEN ECONOMY, AND IT THINK THAT IF WE DO THE RIGHT THINGS, WE'RE LIKELY TO ATTRACT PRIVATE INVESTMENT AGAIN. WE COULD VERY EASILY FIND OURSELVES BEING THE TRADE CENTRE OF THIS PART OF AFRICA. IT'S A MATTER OF WHETHER WE GET OUT POLICIEIS RIGHT AND TAKE ADVANTAGE OF THE OPPORTUNITY THAT FATE HAS PRESENTED TO OUR DOORS." (ENGLISH) ------------------- There are already signs that he may be right. Braely six weeks after Taylor took office, the World Bank, IMF and the African development Bank had already despatched high-powered delegations to work out a recovery plan for Liberia.
This, says Saleeby, is a positive sign backing up his belief that recovery will come sooner than later.
---------------------- CAPTION: ELIE SALEEBY "WELL, INDEED IT IS BECAUSE IN MOST CASES YOU HAVE A WAIT-AND-SEE ATTITUDE. THEY WANT TO WAIT AND SEE THAT YOU DO IN THE FIRST SIX OR NINE MONTHS. WE'VE BEEN FORTUNATE IN THAT LIBERIA ENJOYS A LOT OF GOODWILL OUTSIDE WHICH I BELIEVE IT'S FOR US TO SOLIDIFY OR TO LOOSE AND I THINK THE EARLY ARRIVALS OF THE MULTINATIONALS HERE IS JUST A REFLECTION OF THE GOODWILL THAT WE ENJOY WORLDWIDE." (ENGLISH) ----------------------- The most visible sign of change can be seen here in Monrovia's port. It is almost back to normal capacity with vessels docking at an average of three a day. They are bringing in everything - from vehicles, to building materials and foodstuffs.
------------------------ CAPTION: PORT OFFICIAL "THE TRAFFIC HAS INCREASED CONSIDERABLY. WE HAVE HAD ABOUT 72 VESSELS CALLING HERE IN THE LAST QUARTER, AND OUR PROJECTION IS TO HAVE AT LEAST 150 IN THE NEXT QUARTER. THIS IS THE HIGHEST NUMBER OF SHIPS SINCE THE WAR. WE HAVE RECEIVED 13 SHIPS IN THE LAST 5 DAYS AND THAT IS A REMARKABLE IMPROVEMENT (ENGLISH) ----------------------- That's translating into more goods being available in the local markets. Several supermarkets taht shut down during the war have now been reopened and restocked ------------------------ CAPTION: SHOPKEEPER "IT IS A GOOD SIGN, SO THAT MEANS THE SITUATION WILL BE ALL RIGHT IN FUTURE. WE SEE CUSTOMERS COMING IN EVERY DAY, AND PEOPLE ARE JUST FILLING UP THEIR STORES." (ENGLISH) ------------------------ The country's Finance Minister says indications like these will encourage exiled Liberian businessmen to return home.
------------------------ CAPTION: ELIE SALEEBY "A LOT OF THOSE LIBERIANS WILL BE LURED BACK BY WHAT THEY SEE AND WHAT THEY HEAR. I AM ENCOURAGED BY ONE THING - A LOT OF THEM HAVE HAD TO GO INTO THE PRIVATE SECTOR TO SURVIVE. TO THE EXTENT TAHT THEY GET ATTRACTED BACK WE ARE GOING TO HAVE A NEW CORE OF ENTREPRENEURS COMING BACK HOME." (ENGLISH) ------------------------ The official optimism is there. But many businessmen will be more cautious. They will be waiting to seeee if President Taylor's government can deliver on its promise to restore law and order to a country devastated by seven years of near-anarchy.
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