MONROVIA, LIBERIA-Authorities of the Central Bank of Liberia (CBL), including other financial institutions, have appeared before the Leadership of the House of Representatives suggesting measures needed to address the sanctity of Liberian Dollars in circulation.
According to ELBC Legislative Reporter, it followed a citation by the Leadership of that august body, requesting the financial institutions to state reasons for the sanctity and the insurance of mutilated money, following the printing of four-billion Liberian Dollars.
House Speaker Dr. Bhofal Chambers, among other things, said the current Liberian Dollar liquidity problem undermines the commerce of Liberia.
In remarks, CBL Executive Director, Aloysius Tarlue, said:” The Bank required seven-point-five-billion Liberian Dollars in 2019, prior to the printing of the four-billion, and as of September this year, the CBL has infused fifty-percent of the four-billion, with plans to infuse the remaining money being watchful of the festive season when the demand will increase.”
He boosted of donor partnership and wants the authorization of the Legislature towards the printing of twenty-seven-point- five-billion Liberian Dollars, with the aim of disposing mutilated banknotes.