MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) says it is on course in meeting the mandate of the National Legislature, in printing new family of Liberian Dollar Banknotes and coins.
The Senior Technical Advisor to the Governor of the CBL and Head of the Currency Reform Committee, Musa Kamara, said:” The CBL has completed acceptable design and is now in the process of procurement.”
Mr. Kamara said:” The CBL will begin injecting the new 100 dollar denomination in the banking system for liquidity purposes during the festive season, while the actual replacement of the old banknotes will start in the second quarter of 2022.”
Speaking on ELBC’s Money Matters program Wednesday, September 29, 2021, Mr. Kamara assured that the CBL is well on course to procure the new banknotes in line with the National Legislature’s mandate of printing the money before the 2023 election year.
Meanwhile, the CBL Official said the bank, in collaboration with the International Monetary Fund (IMF), has put in place measures to ensure a smooth transition of the old and new banknotes.
Key among those mechanisms is the prevention of the old banknotes being recycled on the market, after the expiration of the transition period.