By Taisiah K. Merfee
IPNEWS: Authority of the Central Bank of Liberia is expected to Bring in the Country new Banks Note and Coins of Liberian Dollars in Early September of this year to replace the Mutilated Banks Note that is currently on the Liberian market.
Appearing as Guest on ELBC on Wednesday, August 3, 2022, the Senior Economy Policy Director Christopher Wallace and Williams Jlopeh Director on Banking both at the CBL said the mealtime of the lower Denomination, on the Liberian market, the Management had approved, and the Printing of the New banknote with the Mediate of the National Legislature.
Explaining more about the Printing of the money they said the next stage is that the management of the Bank is making effort for the shipping company to see who can bring the money in the Country faster because they don’t have Conrona services.
They Said the Central Bank of Liberia is working with shipping company and the production had begun to work on all of the Modality to see how best They Can speed up the process, we know that the public are concern about the coming in of Coins and the lower Denomination which is also our concerns too.
According to the CBL officials they themselves as technical peoples are eager to see the Banknote and the Coins how it looks, the life span among others, we had to know the texture and the design of the Coins.
They Said they had done All it takes to bring the Coins in the country early by September of this year, if that is done the management of the CBL will come back to the Public to informed them.
Wallace said the issue of printing Money is do jest done on a one-day basic buy rather it requires lots of Process, he said the issue with printing Money in Liberia some years back had lots of Misstep ranging from administrative problem in the printing of the LR16 Billion so this time around they are going to follow All of the steps leading to the Printing Process he added.
“What the Center Bank is Doing is to follow All of the steps leading to the printing of the money and Even up to the infusion of the money into the economy
He said the new banknote and Coins there are expected in country are fully Documented such as if he or she is not in the employed of the CBL any longer that system will be in place.
The bank officials said the storage of the L$5anf L$10 had been further heightened by the increased demand on the smaller Denomination’s due to the growth in the population and expanded scope of Economic activities, including kekeh and motorbike venture’s as well as other small marketers need for smellers denominations.
