The transcripts of the trial of Charles Taylor, former President of Liberia. More…

Mr Koumjian, I - let me be very, very clear and answer your question. What I told these judges was true and the essence of these questions - you know, I know I'm not a lawyer, the little trick questions. You people already knew that these accounts were operating. So you asked me all revenue. At this particular time I'm supposed to volunteer and say, "Oh, no, there are some other" - but these transactions are done under the auspices of the Government of Liberia. And when monies come into this account from the Ministry of Finance and other financial sources that are approved by the legislature, Mr Koumjian, that's all that I can say about it. So why did I say all revenue? Because all revenues come into the Central Bank. How it is managed after that is not the Central Bank's prerogative. And when I talk about financial functions, let me be very clear about that because you didn't ask me or your colleague to - there are two policies in the nation. You have monetary and you have fiscal. The monetary policies are decided by the Central Bank. The fiscal policies are decided by government. Monetary regards to the increase or decrease in money supplies, charging bank, what we call reserve rates, and all that kind of stuff. But the fiscal responsibility of the use of taxpayers' money in Liberia is not the function of the Central Bank.

So money may come into the Central Bank. After that it flows through the financial circles. That's the fiscal responsibility of the government. So by telling these judges that all revenue went into the Central Bank, all revenues went into the Central Bank, okay? The process of getting it out to get into this account did not violate any laws of Liberia. So I did not mislead the judges to bring this little cunning thing in to try - no, I did not mislead them when I told them that, "Oh, that's the monetary policy, but the fiscal responsibility was my government's responsibility."

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