President Joseph N. Boakai Sr. has officially recalled the 55th Legislature from recess, directing lawmakers to return to work from Thursday, April 9, to Thursday, April 23, 2023.
In a formal communication sent separately to the House of Representatives and the Senate, the President stated that the Special Session is convened to address pressing national concerns that require urgent legislative attention.
"The Special Session underscores the government's commitment to ensuring economic stability, fiscal responsiveness, and timely decision-making in addressing the needs of the Liberian people," President Boakai wrote in the communication.
The agenda for the Special Session includes the proposal for printing additional Liberian Dollar banknotes, the consideration and passage of the 2026 Supplementary Budget, and other matters deemed critical for national interest. According to the Chief Executive, these issues are time-sensitive and cannot be postponed until the next regular legislative session.
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President Boakai expressed confidence that members of the Legislature would respond promptly to the call and give due consideration to national priorities.
Meanwhile, House Speaker Bhofal Koon confirmed receipt of the President's communication and instructed the Chief Clerk's office to notify the President for the subsequent issuance of the official proclamation.
The Special Session comes amid ongoing debates about Liberia's 2026 national budget, initially set at $1.211 billion. Critics have argued that the budget prioritizes government expenditures over development initiatives. Observers note that the proposed printing of additional banknotes could be aimed at addressing liquidity issues or financing specific projects. However, political economists warn that this move could create economic risks.
"Printing more money can lead to inflation if not managed carefully," they cautioned. "It reduces the value of the Liberian dollar and causes prices to rise. Economic stability might be at risk if investors lose confidence. The government will need to balance addressing liquidity needs while keeping inflation in check."
Some analysts have also drawn historical parallels, noting that the Unity Party-led government under former President Ellen Johnson Sirleaf sought legislative approval to print additional banknotes in 2016 to address post-Ebola economic challenges and commodity price drops. Observers say that President Boakai's current request appears to mirror those past measures, raising renewed questions about potential inflation and economic stability.
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As Liberia prepares for the Special Session, all eyes will be on the Legislature to see how lawmakers navigate these economic challenges while balancing fiscal responsibility and national development priorities.
