MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) has announced the arrival of additional four-billion Liberian Dollars bank notes into the Country, to ease the liquidity pressure on the Liberian Economy.
The new banknotes were secured in the vaults of the CBL Tuesday, July 7, 2020.
A CBL release issued Monday, July 6, 2020, said the Bank in collaboration with Kroll, will work in the coming days to undertake a full technical validation process of the new banknotes, to ensure they comply with the contractual specifications.
According to the release, the CBL selected Crane to print the new banknotes, following a competitive bidding process by its Procurement Committee in April this year.
Prior to the printing of the new banknotes, the banking system has experienced dire liquidity problems, including mutilated banknotes and insufficient banknotes to meet depositors’ demand for cash.
By: Joseph Koon