By 
Monrovia — The House of Representatives has given the Central Bank of Liberia the green light to print up to L$79 billion in new Liberian dollar banknotes, in what lawmakers say is a one-time authorization aimed at replacing worn-out cash and strengthening the country’s payment system.
During its 18th Day Sitting, Plenary endorsed a report from the House Committee on Banking, Currency and Insurance after weeks of public hearings and consultations with the Executive, CBL, the Ministry of Finance and Development Planning, technical experts, and the private sector.
The Committee told lawmakers the request is not about pumping more money into the economy. Instead, it said the bulk of the new notes will be used to replace deteriorated and mutilated Liberian dollars already in circulation, improve the quality and security of the currency, and ensure cash is readily available across the country.
In a departure from past practice, the House authorized the full L$79 billion at once rather than in phases. Committee members argued the “stronger legislative approach” will cut costs, eliminate the need for repeated approvals, and give the CBL and international printers certainty on production and delivery. The Central Bank will still decide when and how much to actually print and release, based on demand, replacement needs, and macroeconomic conditions.
To calm public and donor concerns, the Committee stressed that approval to print does not mean automatic increase in money supply. “The actual production schedule, shipment, storage, infusion, and replacement of existing banknotes in circulation shall be undertaken by the Central Bank of Liberia in accordance with prevailing macroeconomic conditions, replacement requirements, currency demand, and prudent monetary policy,” the report stated.
The resolution comes with strict safeguards. The CBL must limit the printing strictly to Liberian dollar replacement, comply with the CBL Act, and submit quarterly implementation reports to the Legislature. The House Banking Committee will also maintain oversight throughout the process.
Lawmakers concluded that the CBL has a statutory duty to keep clean, secure, and serviceable currency in circulation, and that newly printed notes can remain in vaults until needed. They added that bulk approval will also help streamline procurement, insurance, transportation, and storage, while avoiding delays and extra costs.
Following debate, members voted to pass the instrument. It has now been sent to the Liberian Senate for concurrence as required by law.
