Liberia: 'Only L$5 and L$10 Are Being Minted,' CBL Clarifies

13 August 2022
The New Dawn (Monrovia)

The Central Bank of Liberia (CBL) says it is only minting coins in L$5 and L$10 contrary to speculations that it is minting L$30 and L$25.

The CBL in a statement issued Friday, August 12, said its move is consistent with May 6, 2021, Joint Resolution of the National Legislature authorizing the Central Bank of Liberia (CBL) to print and mint the new family of Liberian currency totaling L$48.734 billion.

CBL explained that delivery of the coins will begin in the 4th quarter of 2022 and infused into the economy through the commercial banks.

It stated that new coins are smaller, much lighter, and easier to carry than the previous coins in circulation. The minted coins are round, nickel-plated steel, with the L$5 weighing 3.6 grams and the L$10 weighing 4.8 grams. The L$5 has the image of President Edward James Roye, while the L$10 has the image of President Joseph Jenkins Roberts.

The L$5 and L$10 coins, are part of the new family of Liberian dollar currency, with the rest of the new currency being the L$20, L$50, L$100, L$500 and the L$1,000 banknotes. The L$1000 is being introduced into the Liberian economy for the first time.

The Bank reassures the public that the currency reform is well on course and proceeding according to the implementation plan. Meanwhile, the Bank noted that it will soon launch a nationwide public education and sensitization campaign on the currency replacement exercise.

Read the original article on New Dawn.

Tagged:
Copyright © 2022 The New Dawn. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.