21 May 2019

Liberia: Senate Probes U.S. Exchange Rate

The plenary of the Liberian Senate has mandated its committees on Ways, Means, Finance and Budget and Banking and Currencies to probe the high rate of the United States dollars against the Liberian dollars.

Currently, it is one hundred eight and six Liberian dollars against one United States dollars and in some other areas it is even higher.

The plenary which is the highest decision-making body of the Liberian Senate took the decision Tuesday, May 21, 2019 during its regular session on Capitol Hill in Monrovia.

The Senate's decision was as a result of a communication filed by Lofa County Senator George Tengbeh bringing the Senate's attention to the matter.

According to Senator Tengbeh's communication, the high rate of the United States dollars against the Liberian dollars is a serious impediment to the ordinary Liberian citizens in the country.

"I write to draw your attention to the high increase of the United States dollars against the Liberian dollars which is of serious impediment to the ordinary citizens and the current status of the economy of the country," Senator Tengbeh noted in his communication.

The Lofa County Senator, in his communication begged his colleagues to request the presence of the Governor of the Central Bank of Liberia (CBL), Nathaniel Patray and the Economy Management Team (EMT) to provide some answers to the high increase of the rate in the country.

The issue of the high increase of the US rate, current hardship in the country and the deplorable state of the country's economy are among many other issues responsible for the impending June 7, save the state protest in the country.

A group of Liberian leaders under the banner Council of Patriots are planning to stage what they called a peaceful Protest across the country beginning June 7 of this year.


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