By: Naomi Tappia
Liberians have expressed concerns over the announcement that the Liberia Central Bank will print excess banknotes purposely for “liquidity”.
Central Bank Executive Governor announced Monday, November 15, 2021 announced via the media the influx of new $100 Liberian Dollars banknotes in the Country at the end of November 2021.
Speaking at a press briefing, Governor Aloysius Tarlue said the new notes estimated at $4billion LD are intended for liquidity in the economy as empowerment strategy for households during the festive season.
The new banknotes are part of the $48.734 billion of new Liberian dollars currency authorized by the 54th National Legislature of the West African State in May 2021 to be printed in three years specifically 2021, 2022 and 2024.
Tarlue explained that the country’s Central Bank has a memorandum of understanding with commercial Banks across counties for purposes of channeling the money through them for microfinance loan, and registered money ex-change bureaus for proper distribution.
However, those opposed to the move say it is political adding that it is meant to hoodwink masses for purposes of increasing political fortunes of ruling party politicians ahead of the 2023 polls.
Widespread doubts about the genuity of money printing was triggered by the reported missing $16 billion LD and the unaccounted for $25million USD in 2019 that sparked intermittent protests by different progressive groups, Civil Society Organizations (CSO), and opposition bloc across Liberia, particularly in the political Capital, Monrovia were massive protests against “governmental corruption and high inflation rates,” errupted.
The biggest anti-government protest that took place after 14 years of civil crisis was the June 7, 2019 mass gathering of citizens at embassies of powerful Western nations seeking their speedy intervention into the matter of alleged “rampant corruption that deteriorates the already deplorable state of citizens across the Country”.
Even though, Kroll, an American institution investigations conducted into the issue of the missing billions to ascertain the grapevine information of siphoning the fund didn’t find those indicted such as the former governor, Milton Weeks, his deputy, the son of former President Ellen Johnson Sirleaf, Charles Sirleaf, and others liable of the act.
In recent months, appointed government officials have been accused of embezzlement of public funds in agencies ranging from the National Port Authority (NPA), the Liberia Revenue Authority (LRA), to the Ministry of Foreign Affairs (MOF) Passport department.
