“Some major concession agreements will be affected, especially those with U.S. dollars as contracting currency,” according to Mr. Davies. “The legislature did not note the eventual economic costs of the forced de-dollarization of the Liberian economy with the eventual passage of the Act,” Davies believed. He recounted how, in October 2017, the Liberian dollar has depreciated 21 percent since 2013, and the pace of depreciation has increased since 2016. “This picture clearly did not support the move to forced de-dollarization,” Mr. Davies disclosed. We are aware of the experiences of Mexico and Bolivia, which had a bad outcome of their forced de-dollarization programs,” he said.

Source: Daily Observer April 03, 2018 02:26 UTC