Liberia: Rep. Enders Wants CBL to Account for Lrd4 Billion

16 September 2020

Montserrado County electoral district #6 Representative Rev. Dr. Samuel R. Enders has written the House of Representatives to invite the Deputy Governor for Economic Policy at the Central Bank of Liberia to provide reasons why the Bank continues to give mutilated bank notes to commercial banks for disbursement to customers when government has printed and brought into country LRD4 billion for the purpose of withdrawing mutilated banknotes circulating in the economy.

According to Rep. Enders, the 54th National Legislature, having authorized the Central Bank of Liberia to print four billion Liberian dollars through a resolution, he has observed, witnessed and received several complaints from the public that the Central Bank continues to give commercial banks mutilated Liberian banknotes for onward distribution to customers.

He said this action on the part of the economic policy committee of the CBL is counterproductive to the government's Pro-Poor Agenda.

He added that the decision is also creating unnecessary burden and financial difficulty for citizens especially, the good people of electoral district #6, Montserrado County.

According to the lawmaker, many businesses are unable to pay their staff because money withdrawn from commercial banks are in bad shape, as workers receive salaries they are not able to spend, bringing upon them unnecessary hardship.

Rep. Enders also wants the CBL to come alone with full listing of commercial banks it has supplied the newly printed banknotes, include dates and amount released.

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