Liberia: Finance Minister Wants Authority to Print New Banknotes Taken from the Legislature - News Summed Up

Liberia: Finance Minister Wants Authority to Print New Banknotes Taken from the Legislature


MONROVIA – Finance and Development Planning Minister, Samuel Tweah, says politicizing of monetary issues in Liberia is leading to the “erosion of confidence in the banking system”. Tweah dodged taking the responsibility for the shortage of Liberian dollar banknotes, stating that the authority to print new banknotes rests with the Legislature and not the President. He said he looks forward to the Legislature, upon their return from their annual break in January, acting to end the politicization of monetary policy. This means, he expects the legislature to strip itself of the sole authority of granting the Central Bank of Liberia permission to print new banknotes before it is printed. The new Central Bank Act gives the CBL more independence and the autonomy to decide the country’s monetary policy.


Source: Front Page Africa December 28, 2020 20:37 UTC



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