CBL Governor Designate J. Aloysius Tarlue and CBS Governor Kelfala Kallon

The most suitable mechanic or technician is needed right now to turn Liberia’s economy around, and not someone whose background is predominantly in politics and public administration.

Does Tarlue understand the complexities of the Liberian economy? The CDC-led government cannot continue guessing and playing gamble based on political patronage and convenience.

The Liberian economy is enduring its toughest time as a result of high inflation, high unemployment, and zero growth (stagflation).

The economy has been unable to cushion shocks, especially exogenous, because it is largely import-based. The Liberian markets are overly dependent on imports. Foreign currencies are being lost as a result of this dependency. These losses remain a threat to Liberia’s economy and sovereignty.

Can J. Aloysius Tarlue remedy prevailing crisis? Does he have the requisite tools to ignite recovery, stability, and sustained growth? In my opinion, Tarlue is not the best mechanic to repair Liberia’s collapsing economy because his background focuses more on politics and governance, and not economics and finance/accounting.

Tarlue’s highest academic credential is a master’s degree in Public Administration while his highest job portfolio in a banking arena is Compliance Officer.

The Liberian Senate must be cautious and meticulous about these details and hard facts before confirming Tarlue or any presidential appointee for that matter.

Who is a compliance officer? A compliance officer is an individual who ensures that a company complies with its outside regulatory and legal requirements as well as internal policies and bylaws (Source: Investopedia). Can a former compliance officer fix Liberia’s economy?

Here is a comparative analysis between Governor designate J. Aloysius Tarlue of Liberia and Governor Kelfala Kallon of Sierra Leone.

A) Central Bank Governor J. Aloysius Tarlue of Liberia

Academic Background:
1) Master of Public Administration, Kean University, 2000 – 2001
2) Bachelor of Arts in History and Political Science, King University, 1984 – 1987
3) High School Diploma – American Cooperative School
Books/Publications: None
Professional Membership: None
Experience:
1) Chairman, Board of Commissioners, Liberia Electricity Regulatory Authority, 2018 – Present
2) Compliance Officer, Quality Control Team, JPMorgan Chase & Co., 2013 – 2018
3) Quality Assurance Officer, BNY Mellon Wealth Management, 2008 – 2013
4) Senior Risk Officer, Deutsche Bank, 2007 – 2008
5) Compliance Officer, Merill Lynch, 2004 – 2007.
B) Central Bank Governor Kelfala Kallon of Sierra Leone:
Academic Background:
1) Ph.D. in Economics, University of Virginia, 1983
2) B.A. in Economics, Methodist University, 1976
3) Professor emeritus of Economics, University of Northern Colorado, USA, 2019 – Present
4) Associate Professor, University of Northern Colorado, 1993 – 2019
5) Assistant Professor, Gettysburg College, 1987 – 1993
6) Assistant Professor, University of West Florida, 1983 – 1987
Books/Publications:
1) The Economics of Sierra Leonean Entrepreneurship
2) The Political Economy of Corruption in Sierra Leone
3) Foreign Aid and Dutch Disease: Evidence from Sierra Leone
4) Growth Empirics
5) An Econometric Analysis of Inflation in Sierra Leone
6) An Econometric Analysis of Money Demand in Ghana
7) An Economic Analysis of Private Indigenous Entrepreneurship in Sierra Leone
8) The Export-Led Hypothesis: Evidence from Sierra Leone
9) Unit Root Tests of PPP under Fixed and Flexible Exchange Rate
10) Testing the Mundell-Fleming and Monetary Approaches to Exchange Rate Determination: Evidence from Sierra Leone, etc.
Professional Membership
1) Western Economic Association International (2014 – Present)
2) Eastern Economic Association (1987 – Present)
3) African Finance and Economic Association (1987 – 2001)
4) Pennsylvania Economic Association (1987 – 1993)
5) South Economic Association (1983 – 1987)

Professor Kallon has 5 distinct awards and academic honors to his credit and has published dozens of papers on variety of subjects in Economics and Finance. He has spent over 30 years studying the macro-economy of Sierra Leone. He has provided consultancies to national and international financial organizations including firms, governments, banks, corporations, etc.

Isn’t this an unmatched comparison? Liberia continues to make mistakes. Like it was an error to have preferred Milton Weeks and Nathaniel Patray as CBL Governors, it is also an error to prefer J. Aloysius Tarlue as Governor.

Those entrusted with the people’s power have to and must begin to demonstrate seriousness about governance. It is time to place premium on MERIT and EXCELLENCE. I hope those with the constitutional power to scrutinize and confirm presidential nominees are listening.

Sources of Research: UONC Website, BOS Website, LERA Website, and LinkedIn.
About The Author: Martin K. N. Kollie is a youth and student activist who hails from Central Liberia (Bong County). He is a prospective graduate of Economics, University of Liberia. He can be reached via [email protected]

By Martin K. N. Kollie
Youth and Student Activist, [email protected]

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