President George Weah pledged to cut his own salary by a quarter on Monday, in a nationwide address in which he warned of tough times ahead for a "broke" country.
"The state of the economy that my administration inherited leaves a lot to do and to be decided," the former international soccer star said in an address apparently aimed at lowering high expectations following his election victory at the end of last year to replace Ellen Johnson Sirleaf.
"Our economy is broken; our government is broke. Our currency is in free fall; inflation is rising," Weah said. "Unemployment is at an unprecedented high and our foreign reserves are at an all-time low".
Weah had promised a crackdown on endemic corruption as he was sworn in a week ago to the cheers of thousands of exuberant supporters crammed into a stadium in the capital, Monrovia.