CBL Sets to Release Coins into Liberia Economic
Reports gathered by k-news say the Central Bank of Liberia is expected released portion of 48 million Liberian Dollars in coins into the Liberian market starting next month.
It can be recalled that President George Weah wrote the Legislature requesting the lawmakers to approve the printing of new Liberian banknotes in the tone of L$48billion.
The money, according to the President, will be infused into the economy when printed.
Since the Legislature approve the President’s request, the government embarked on the printing of the New Banknote including coins.
President George Manneh Weah on January 10, 2022 while addressing the Nation vowed that his government will not engage in bringing money to the Country 2023 to create a plane field during the electoral process- an act the opposition opposed.
As is stands, there is a shortage of lower denominations on the Liberian marker that has caused public outcries.
With the shortage of lower denominations, some have term the current situation in the Country as Liberians returning to Barter system, where some tricycle and motorcyclists were seeing giving candy in place of change to commuters.
With the reintroduction of the coins, will the problem of the shortage of the lower denominations be solve?
By: Emmanuel Toe