IN MAY 2021 the National Legislature approved of the Central Bank of Liberia (CBL) printing L$48.734 billion in new banknotes, as part of the government’s effort to ease the liquidity problem on the Liberian market. On Friday, November 26, 2021 the first batch of L$4 billion new 100 Liberian dollar banknotes safely arrived in the country and safely secured in the vaults at the headquarters of the Central Bank of Liberia (CBL).
THE GOVERNOR OF the Central Bank of Liberia (CBL), J. Aloysius Tarlue, is optimistic about the new measure. “The arrival of the new 100 Liberian dollar banknotes is an important milestone in addressing the persistent liquidity challenges that the Liberian economy has faced over the years. CBL will continue to work to ease the liquidity challenge at commercial banks, mainly during the festive season. There is therefore no need to panic and rush on banks for the new money,” the Executive Governor has stated.
THE CBL HAS informed the public that it is doing everything possible to prepare the public for the introduction of the new banknotes. The CBL said they have engaged a broad range of stakeholders, including commercial banks, Liberia Business Association (LiBA), Liberia Chamber of Commerce (LCC), non-banking financial institutions, including mobile money agents, money exchangers, microfinance institutions, as well as the Civil Servants Association, National Teachers Association, National Traditional Council of Liberia, Federation of Liberian Youth and the National Civil Society Council of Liberia, explaining the currency change-over process.
FURTHER, THE BANK also disclosed that it launched its public education community town hall meetings across the country on November 15, 2021 in Nyein Town, Todee District, Montserrado County, to educate citizens and foreign residents on the currency change-over.
THE BANK EXTENDED its gratitude to the Executive, the National Legislature, international donor partners and the public for their support in this process and assured them of its full commitment to promote transparency and accountability at the CBL and ensure the availability of money in the bank.