MONROVIA, LIBERIA – The United States Government has announced a Technical Assistance Program to the Central Bank of Liberia (CBL) for the printing of additional Liberian Dollar banknotes.
According to US Embassy release issued Thursday, December 26, 2019 in Monrovia, the program is to assist the CBL manage the Liberian currency And create the necessary monetary stability for broad-based, inclusive economic growth.
The release quotes the US Embassy as saying the move is based on the approval by the Legislature to allow the CBL print the LD$ 4Billion requested by Executive to infuse into the market.
As part of the program, USAID is expected to hire Kroll Associates to assist the CBL print additional banknotes through a credible, transparent, and traceable process within six months.
The support from the US Governmant also includes assisting the Central Bank of Liberia to undertake an open and competitive procurement process, tracking the shipment of the money from the printer to the CBL’s vaults and properly placing the banknotes into the banking system.
Meanwhile, the Liberian Government is expected to pay costs associated with the printing and transport of the money.