Liberia's President Boakai takes 40% salary cut

President Boakai previously earned a gross annual salary of $13,400. The pay cut means he will now make around $8,040. Liberia's President Joseph Boakai will cut his salary by 40 percent, a move he says is aimed at "setting a precedent for responsible governance" in the West African country battling poverty and corruption. Boakai was sworn in for a six-year term in January and has pledged to improve living conditions for Liberians, tackle widespread corruption and uphold the rule of law. The president's voluntary pay cut reflects a "determination to lead by example in strengthening government accountability and demonstrating solidarity with the people of the nation", a statement from the presidency said. Liberia is one of the poorest countries in the world, where more than half of the population lives in poverty, according to a 2023 World Bank report. President's assets The country also ranks 145th out of 180 on Transparency International's 2023 Corruption Perceptions Index. Boakai previously earned a gross annual salary of $13,400, according to a declaration of his assets dated from February. The pay cut means he will now make around $8,040. The assets declaration, which he published in June as a transparency measure, did not specify any allowances on top of his salary. It put his net worth at $970,419, mainly in property. The pay cut "is aimed at setting a precedent for responsible governance and nation-building," the presidency's statement said. Struggling economy In 2018, former president George Weah announced a 25 percent reduction in his salary in light of the country's struggling economy. Weah's critics accused his government of corruption and him of failing to keep a promise to improve the lives of the poorest. ➤ Click here to follow our WhatsApp channel for more stories.