Liberia: GAC Uncovers Major Breaches in Liberia's Domestic Debt Records - Over U.S.$678m in Claims Deemed Invalid

Liberia: GAC Uncovers Major Breaches in Liberia's Domestic Debt Records - Over U.S.$678m in Claims Deemed Invalid

Monrovia -- Liberia's domestic debt records are plagued with significant breaches and irregularities as the General Auditing Commission (GAC) has declared over US$678 million in vendor claims and arrears invalid. The findings expose serious weaknesses in the government's financial oversight systems.

LIBERIA GAC REPORT: DOMESTIC DEBT AUDIT REJECTS 88% OF CLAIMS, SAVES OVER US$704 MILLION

MONROVIA – The General Auditing Commission (GAC) has thrown out nearly 88 percent of domestic debt claims filed against the Government of Liberia, citing widespread irregularities, missing documentation, and unsupported payment requests, according to its recently released Domestic Debt Audit Report. The findings could save the country more than US$704 million. The audit examined claims submitted by individuals, contractors, financial institution…