The Central Bank of Liberia (CBL) has disclosed a plan to print additional Liberian-dollar banknotes in order to replace mutilated/unfit banknotes and to prevent shortage of the Liberian dollar on the market.
According to the CBL, Liberian dollar banknotes were last printed in 2021 and gradually infused into the economy. However, it has been about five years now, and with the paper banknote having a lifespan of approximately four years, several of the notes have worn out due to environmental conditions and frequent handling, as Liberia remains a predominantly cash‑based economy, with banknotes experiencing rapid physical deterioration over the years.
The CBL observed that population growth and expanding economic activity have increased demand for transactional cash; hence, periodic replenishment of banknotes is a normal and necessary function of currency management.
Even though the bank remained tight-lipped about the amount to be proposed for printing, it pointed out that the additional banknotes are intended to be used for the replacement of unfit banknotes, responding to economic expansion, building of Gold Reserves, strengthening Liberian dollar reserve buffer, and monetary policy operations.
It is however expected that the additional banknotes will be, by far, much more than the L$48 billion printed during the Weah administration in 2021, and are expected to serve the economy up to 2030. The bank quickly ruled out the concern about inflation, noting that with stable exchange rate conditions and improved domestic supply, the pass-through to inflation should remain contained.
The CBL emphasized that additional issuance of banknotes will be primarily aimed at meeting transaction demand and replacing damaged notes, not creating excess liquidity, and that inflation risks remain limited if money growth stays aligned with output growth and demand for money.
To ensure transparency and accountability in the printing process, the CBL said the National Legislature is expected to make the final determination regarding the amount to be printed, and that the bank will be subjected to independent audits, and detailed reporting on delivery, distribution, and destruction of unfit banknotes.
In a media engagement with editors and managers of a number of newspapers and radio stations on Wednesday, April 8, 2026, the CBL committed itself to relying on a structured and transparent communication strategy to keep the public consistently informed before, during, and after the currency printing process, including regularly reporting to the Legislature on balances of the currency stock, increasing the frequency of public awareness using different radio programs to explain the rationale and justification of the printing as well as the procurement processes, ensuring that the IMF on both technical and advisory levels are consulted, and engaging with civil society organizations as well as adhering to international best practice on its communication with the public.
Meanwhile, the National Legislature has resumed for a 10-day period through a recall by President Joseph N. Boakai, and the printing of additional Liberian dollar banknotes is part of its agenda.
