The United States Agency for International Development, USAID, through the U.S. Embassy in Monrovia, has contracted the Kroll Associates to assist the Central Bank of Liberia during the printing of an additional L$4 billion in new banknotes.
The Senate has voted to confirm Aloysius Tarlue as the new executive governor of the Central Bank of Liberia. The Senate’s decision came on Monday, Dec. 16 at an extraordinary session requested by President George Weah.
The importation and infusion of banknotes into circulation are routine activities of the Central Bank under its monetary authority. However, these mundane banking functions have come under intense scrutiny and triggered deep public sensitivities in the wake of recent scandals.
Liberia is still wiping off the dust from the more than 14 years of uncivil war. The years of bloodbath destroyed the entire nation’s economy and is still having its toll today – this is why a political machination in the form of the ‘Weah Step Down Campaign’ that seeks to dethrone a government is frightening.
I am deeply honored and humbled that His Excellency, Dr. George Manneh Weah, President of the Republic of Liberia, has nominated me to serve our country in another capacity, having served as chairman of the Liberia Electricity Regulatory Commission.
The economic and financial crisis in Liberia has spread beyond the banking sectors and into Liberia’s struggling education sector, with a direct impact on the work of U.S. Peace Corps volunteers teaching in schools in rural Liberia.
The new Central Bank of Liberia’s executive governor-designate, Aloysius Tarlue, told senators on Thursday, Dec. 5 that he will work to restore public trust in the banking sector in the aftermath of a series of scandals involving the bank.
Amidst worsening economic conditions in the country, the Central Bank of Liberia has approved and adopted a new monetary policy as the framework for more robust steps to maintain price stability.