Liberia: CBL Governor Opens Waifem Regional Course On Exchange Rate Policies in Digital Era

28 April 2026
The New Dawn (Monrovia)

The Executive Governor of the Central Bank of Liberia (CBL), Henry F. Saamoi, has officially opened the WAIFEM Regional Course on Exchange Rate Policies in a Dynamic Digital World at Bella Casa Hotel, Monrovia.

The week-long training brings together policymakers, facilitators, and participants from across West Africa to address pressing challenges of exchange rate management in the digital age.

Governor Saamoi underscored the timeliness and urgency of the program, noting that exchange rate policy has become more complex and consequential amid globalization, financial innovation, and digital transformation. He emphasized that the course will equip participants with modern analytical tools and practical frameworks to manage volatility, explore policy options, and address emerging issues, including digital currencies and early warning systems.

Highlighting Liberia's recent economic performance, the Governor reported a 20.8 percent increase in international reserves to US$575.5 million in 2025, alongside a relatively stable Liberian dollar. However, he cautioned that underlying pressures persist due to high dollarization and import dependence, making exchange rate stability a central anchor of monetary policy.

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Governor Saamoi outlined the CBL's strategic response, including a tight monetary stance through CBL bills, interest rate adjustments, tailored reserve requirements, and measures to strengthen confidence in the Liberian dollar. He stressed that exchange rate management is not just a policy objective but a cornerstone of macroeconomic stability.

The Governor praised WAIFEM's leadership under Dr. Baba Yusuf Musa for its pivotal role in building capacity across the sub-region in macroeconomic management, debt sustainability, and financial sector development. He encouraged participants to engage fully, exchange ideas openly, and embrace innovation as monetary policy increasingly intersects with digital transformation.

The course runs from April 27 to May 1, 2026, and is expected to foster peer learning, policy innovation, and stronger regional cooperation in navigating exchange rate challenges in a rapidly evolving financial landscape.

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