The Governor of the Central Bank of Liberia Dr. J. Mills Jones has defended his action to help striving Liberian business gain success through a scheme of infusing millions of Liberian Dollars in loans and grants into Liberian businesses.
Continues Dr. Jones: Part II, 2e: “That mandate includes stimulating
economic growth through the use of monetary instruments ;Part II, 3e:
fostering monetary credit and financial conditions conducive to orderly,
balanced and sustained economic growth and development; and Part II, Sec 4
para 3providing credit to bank-financial institutions on a discretionary
basis.”
The CBL Act
(3) The principal objective of the Central Bank shall be to achieve and
maintain price stability in the Liberian economy. To this end, it shall
devise and pursue policies designed to: meet the above mandates.
Governor, I disagree with you in giving money out to non-financial
institutions. Sorry you have misinterpreted the CBL Act. your intentions
are good, but let's do it the right way.
Liberia: Central Bank of Liberia Defends Bank's Effort to Support Liberian Business
FrontPageAfrica (Monrovia), 18 March 2013
The Governor of the Central Bank of Liberia Dr. J. Mills Jones has defended his action to help striving Liberian business gain success through a scheme of infusing millions of Liberian Dollars in loans and grants into Liberian businesses.
Comments Post a comment
Continues Dr. Jones: Part II, 2e: “That mandate includes stimulating economic growth through the use of monetary instruments ;Part II, 3e: fostering monetary credit and financial conditions conducive to orderly, balanced and sustained economic growth and development; and Part II, Sec 4 para 3providing credit to bank-financial institutions on a discretionary basis.” The CBL Act (3) The principal objective of the Central Bank shall be to achieve and maintain price stability in the Liberian economy. To this end, it shall devise and pursue policies designed to: meet the above mandates. Governor, I disagree with you in giving money out to non-financial institutions. Sorry you have misinterpreted the CBL Act. your intentions are good, but let's do it the right way.