The president of Liberia, Joseph Boakai, has announced that he will reduce his annual salary by 40%, from $13,400 to $8,000 per year.
One in five people in Liberia live on less than $2 per day, with Boakai's office saying he was demonstrating "solidarity" with Liberians and "responsible governance."
As Liberia grapples with a back-breaking cost of living crisis, it's a good sign that the country's politicians are taking it seriously. Pres. Boakai's predecessor was dogged by corruption and graft allegations, and Boakai was elected to end the wastefulness at the top. This is a positive step forward for the financial well-being and political culture of Liberia.
This is a clever public relations move from Pres. Boakai which will do nothing for the people of Liberia. This statement is meaningless unless he shows how the savings will be spent, as the funds still belong to his office alone. The constitution is clear that the president cannot unilaterally make this move. Pres. Boakai is making a meaningless gesture instead of fixing the economy.