MONROVIA, LIBERIA – The Central Bank of Liberia (CBL) has submitted to the House of Representatives for approval, a resolution seeking a comprehensive replacement of the existing Liberian Dollar Banknotes.
A release from the House of Representatives says, the Central Bank’s action is in compliance with Section 23 of the Act that established the CBL and based on forecast.
The total projected amount of new banknotes to be printed in three year period is in the tune of LD$ 48Billion.
The Bank believes the approval of the currency reform proposal will fast-track the systematic procurement process of printing and delivering the new banknotes to the Country, a process that may last for six to nine months.
It can be recalled that in January 2021, the House of Representatives invited CBL Executive Governor to provide a road-map for the Body to have an informed judgment on the status of the national economy.
The instrument was forwarded to the committees on Ways, Means and Finance, and Banking and Currency for perusal and to advice Plenary within two weeks.