Liberia: Central Bank of Liberia Denies Laying Off 400 Employees

press release

Monrovia — The Central Bank of Liberia has dismissed reports that it is planning a massive layoff of some 400 of its staff in compliance with the International Monetary Fund's request to slice the wage bill.

In a statement Tuesday, the CBL countered that reports of massive redundancies, to the tone of 400 staff members - something that would amount to more than 50% of all its employees, is simply untrue. "This story, first reported in the Frontpage Africa Newspaper on Friday, 1 November 2019, has the potential of sowing discontent at the Bank and within the wider society and, in so doing, undermine the recent hard work by a renewed and re-invigorated CBL Board of Governors to enhance the credibility of the Bank as the Monetary Authority of the Country."

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