MONROVIA, LIBERIA-President George Weah is requesting the National Legislature to approve the printing of additional Liberian Dollar banknotes.
President Weah, as Head of the Executive, informed that august body of the need to print additional banknotes to stabilize the economy.
He said:” Failure to do so could cause high demand for cash, heightening inflation.”
The Liberian Leader also urged the National Legislature to grant the Central Bank of Liberia (CBL) the authority and independence to operate the monetary space of the Country.
Delivering his annual message on Monday, January 25, 2021, President Weah stressed the need for currency reform to enhance monetary policy and promote credibility and independence of the CBL.
Meanwhile, the Liberian Leader says the economy has been projected to grow by 3.2 % for the Fiscal period 2020/2021.
He noted that such projection is based on expected growth in all major sectors of the economy, and on improved global trade.
President Weah said:” The Liberian Government is determined to meet the expected growth in the economy, by sustaining the current fiscal discipline and the proper management of the Country’s resources.”
The Liberian Chief Executive said:” Doing so, would make ordinary Liberian feel the impact of the Liberian Government’s ongoing microeconomic reforms.”
Meanwhile, President Weah appealed to the National Legislature to act on key Bills to significantly boost the economy.