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Rep. Youngblood alarms over LD$5.00 banknote shortage

Augustine Myers
Representative, Munah Pelham-Youngblood
Representative, Munah Pelham-Youngblood

(elbcradio.com/Aug. 23, 2015)-Montserrado County Representative, Munah Pelham-Youngblood, has alarmed over the shortage of the five Liberian dollar (LD5.00) banknote on the local market.

Rep. Youngblood said: “The situation is posing economic hardship and suffering on the “poor masses.”

For an example, she also said: “When someone gives a merchant LD20.00 to buy a good that costs LD15.00, he or she does not get any change in return, due to the shortage of the LD5.00 banknote on the Liberian market.”    

The District #9 Representative has requested the Plenary to mandate the House Committee on Banking and Finance to meet with Central Bank of Liberia and local commercial bank authorities to give reasons for the LD5.00 banknote shortage.

Rep. Youngblood has accordingly challenged the Lower House to use its oversight authority to ensure that the public is protected at all times.

Following the reading of a communication in Session Tuesday, August 17, 2015, the House Plenary forwarded the document to the Committee on Banking and Currency.

The House Committee on Banking and Currency was mandated to review Rep. Youngblood’s communication and furnish Plenary with relevant recommendations in two weeks.

 


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