Monrovia – The Central Bank of Liberia announces the secure arrival of additional 4 Billion Liberian Dollar banknotes to ease what it calls the liquidity pressures on the Liberian economy.
The bank made the disclosure recently through a press release
According to the release, the additional L$4 Billion banknotes were safely secured in the vaults of the CBL Headquarters on July 7, 2020. The Central Bank of Liberia, in collaboration with Kroll, will work over the coming days to undertake a full technical validation process of the new banknotes to ensure agreement with the contractual conditions.
Kroll is the firm that investigated the Central Bank of Liberia in September 2018 over the reported missing 16 Billion Liberian Dollar banknotes which lead to the “Bring Back Our Money” protests.
The release further stated that prior to the printing of the additional 4 Billion Liberian Dollar banknotes; the banking system had experienced terrible liquidity problems, including mutilated banknotes and insufficient banknotes in the banking system to meet depositors’ demand for cash.
CBL Executive Governor J. Aloysius Tarlue, Jr. said “The arrival of the additional Liberian Dollar banknotes is good news indeed. It will help ordinary Liberians to pay for school fees, hospital bills and pay for other important bills”.
The release also stated that CBL obtained Legislative approval before proceeding with the printing of the additional 4 Billion Liberian Dollar banknotes.
