He says the amount, provided since last week is intended to contribute to economic growth and the livelihood of the banks’ clients. Governor Weeks further disclosed that as far as he was concerned there are no pending requests from commercial banks. He attributed the liquidity problem to what he described as a slight delay in the currency management process at the bank. He said ‘getting reserve funds from operational vault to commercial banks’ was an operational issue that has been resolved, adding, “but for people to go the extent of saying that there is no money or cash in various commercial banks, that’s completely false”, he declared. It can be recalled that only last week the president of the Liberian Bankers Association, John Davies, during a presentation at an economic policy forum hosted by the Governance Commission attributed part of the problem to the lack of trust between the CBL and commercial banks.

Source: Daily Observer December 22, 2017 02:26 UTC