MONROVIA, LIBERIA-The Government of Liberia has released, with immediate effect, new policy measures, to encourage the use of Liberian Dollars on the market.
According to a release issued recently, the new policy measures were jointly announced over the weekend by the Central Bank of Liberia (CBL), the Commerce Ministry, and the Liberia Revenue Authority (LRA).
The measures include the display of exchange rates at business entities, acceptance of the Liberian Dollars for transactions, payment of taxes in Liberian Dollars, and investment in CBL Liberian Dollar Bills.
The release said the move is intended to curtail the manipulation of the exchange rate, speculations, and other selfish reasons to the detriment of the population.
The release also quotes the Liberian Government as mandating all businesses, including schools, hospitals, universities, hotels, and restaurants, among others, to state their prices in Liberian Dollars and equivalent in US Dollars, and accept the Liberian Dollar as a legal means of payment.
Meanwhile, the Government is urging the public and members of the Business Community to abide by the directives.
By: Sampson David
