Western Union's Unethical Deal With Liberia Central Bank
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Money converted by Western Union into Liberia Dollars is not widely accepted by Liberian businesses. Liberia Government itself conducts its financial transactions in US Dollars. In other Countries with dual currency system, their local currencies are accepted everywhere as legal tender. This is not the case with Liberia where the average person lives on less than US$2.00 per day. What then is the rationale for the forceful conversion of 25% of funds remitted to Liberia? Western Union makes huge profits and the Liberia Government raises funds to support their bureaucracies. This scheme cheats Senders and Recipients since the converted currency (Liberia Dollars) is not widely accepted.
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