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Key policy stakeholders must work to keep price and exchange rate stable-CBL Governor

Beysolow-Konneh/Maximilian Kasseh, Jr
CBL Governor Patray
CBL Governor Patray

MONROVIA, LIBERIA-Central Bank Governor Nathaniel Patray says issues of exchange rate stability and price stability in the Country require the collective efforts of all key policy stakeholders.

Governor Patray said:” Liberia being a highly dollarized economy has significantly influenced both the exchange rate regime and monetary policy framework, and to a large extent, limited the monetary policy function and operations of the CBL over the past years.”

Governor Patray said based on projected global and domestic economic indicators, the Liberian Dollar is expected to face further pressure during 2019/2020, unless there are strong policy measures, including monetary policy, fiscal policy and structural reforms.

He said such policy coordination is important among key government agencies, including Ministries of Finance and Development Planning, Commerce and Industry and Central Bank of Liberia.

Governor Patray was speaking Thursday, July 11, 2019, when he served as Key launcher of the Economic Forum on Monetary Policy Formulation and Implementation in Monrovia.

 


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