“His work and sacrifices offered to the banking sector and Liberia at large helped significantly for the institution,” Dr. Jones said Friday at a ceremony retiring Bestman, who is also a former CBL governor and Minister of Finance.
“John Bestman,” he said, “when the new economic history is written, your name will be among those who dared to challenge the status quo among those who dared to dissent, not for the sake of dissenting, but because it was the right thing to do.
“You spoke softly, but carried the big stick. The stick that you carried, John, was the message that fighting poverty in Liberia required financial empowerment of Liberians,” Dr. Jones noted.
“This is a dinner in honor of a man who deserves not just this mark of respect, but the approbation of the nation. Indeed, he has served well in many areas of major responsibility: as Minister of Finance, Governor of the National Bank of Liberia, and as member of the Board of Governors of the Central Bank of Liberia.”
Governor Jones described him as humble man with much to be proud about, a man of solid education, experience, as well as accomplishments.
“John is an example of a role model we can assuredly recommend to the younger generation to follow,” he said.
The CBL boss noted that Bestman “did not ride to prominence on the wings of sycophancy; therefore, his prominence stood the test of time because it earned; it was because of performance that Mr. Bestman stood that public service was about the bigger picture—our country Liberia.”
“If Liberia is to live up to its promise, these are the people whose lives must be touched; and if we are to make Liberia a big tent for all, these are the people whose lives must be touched. I remain committed to this approach to public service,” Dr. Jones remarked.
In response, the retired Bestman thanked President Ellen Johnson Sirleaf for the opportunity given him over the years to serve his people as member and Board of Governors of the CBL.
“My experience over these years has been hugely blessed and richly rewarding. I commend her (President Sirleaf) for the quality of professional men and women she continues to appoint to the Board of Governors,” said Bestman.
He thanked the Executive Governor Jones and members of the CBL board for the high level of professionalism demonstrated during his tenure in advancing the interest of the Liberian people during his tenure at the bank.
“I must say that all evidence exists that indeed the nation’s banking sector is on a sound footing as I retire today. We have managed to keep inflation in single digits; while in many countries in the region, inflation due to currency depreciation is in double digits,” he said.
He added that the value of the Liberian dollar, despite limited export capacity and low productivity, is still relatively stable.
Bestman indicated that during his tenure as Board of Governors they have managed to keep the Liberian dollar at a reasonable rate by active interventions in the marketplace.