MONROVIA, LIBERIA-Finance Minister Samuel Tweah says the Government of Liberia will endeavor to restore trust and confidence in the Banking Sector of Liberia.
Minister Tweah said:” Government is under obligation to improve the living conditions of the Liberian people, by addressing challenges undermining their progress.”
He made specific reference to the current shortage of Liberian Dollars at the various Commercial Banks across the Country.
Minister Tweah attributed the shortage of Liberian Dollars at various commercial banks to the lack of trust in the banking sector.
Speaking Wednesday, January 6, 2021, during a radio summer cast, the Finance Minister noted that eighty-percent of Liberian Dollars is outside of the banking sector, thereby, undermining the capacity of Commercial Banks to meet the growing demands of the public.
In a related development, the Comptroller General of Liberia, Janga Kowo, said the Liberian Government has instituted new measure to ensure that it remains up to date with salary payment.
Mr. Kowo said:” As the fiscal arm of Government, the Ministry is responsible to raise the vouchers and issues checks for salary payment to the Central Bank of Liberia (CBL), based on available revenue collected.”
He, however, wants the CBL collaborate with Commercial Banks to ensure that civil servants and other Liberians receive their just monies.
Speaking with ELBC on Wednesday, January 6, 2021, the Comptroller General clarified that the Finance Ministry cannot be blamed for civil servants and others not receiving their salaries from Commercial Banks.