Liberia: CBL Governor Tarlue Hosts New York Fed Here

press release

The Executive Governor of the Central Bank of Liberia (CBL), J. Aloysius Tarlue, Jr. says his most pressing challenge is rebranding the CBL to restore its integrity. The CBL Executive Governor notes that it is important that immediate steps are taken to restore public confidence in the operations of the Bank.

In a briefing here Wednesday, January 15, with a delegation of the New York Federal Reserve (FED) at the Bank's corporate headquarters in Monrovia, Executive Governor Tarlue said the CBL, under his governorship, will exercise transparency in its operations to remove the reputational harm the Bank has suffered.

According to a press release issued by the Bank, Governor Tarlue reiterates the need for the implementation of effective internal controls that would help restore the image of the CBL and thanks the FED for its support, while stressing the need for more capacity building to help the CBL in its effort to maintain price stability in the Liberian economy.

The Head of International Affairs and Senior Vice President, Mr. Michael Schetzel, of the New York Federal Reserve, lauds Executive Governor Tarlue and praises the CBL for the cordial working relationship with the FED. He says his institution values the relationship with the CBL and will continue to exert all efforts to enhance the capacity of the Bank.

The meeting was centered around the CBL's regular operations and administration of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and the Bank's Customer Security Program (CSP) which was recently implemented.

The visiting 5-member FED delegation includes Mr. Matthew Nemeth, Central Bank & International Account Services Vice President; Ms. Lara Green-Spector, Central Bank & International Account Services Officer; Mr. Matthew Trieste, Central Bank & International Account Services Senior Associate; and Ms. Lauren Comunale, Central Bank & International Account Services Senior Associate. The meeting, which is an annual mission of the FED to Liberia was also attending by CBL's Acting Deputy Governor for Operations, Madam Nyemadi D. Pearson as well as other senior staff members of the Bank.

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