The Economic Management Team’s Recommendation to demonetize the Country’s currency as part of measures to revamp Liberia’s economy appears to be falling on fertile ground.
Well this is evident because of Government’s official spokesman, Information Minister Lenn Eugene Nagbe Thursday announcement of plans by the government to print new banknotes.
According to Minister Nagbe the plan decision by the Government is among other things aimed at resuscitating the Country’s struggling economy.
He said no government should run an economy without knowing the total amount of liquidity of its local currency in circulation, something he added is the current situation in Liberia.
The MICAT boss assured Liberians that they will change the money and ensure they fix some of the challenges facing the Country’s economy.
He acknowledged that the process requires legislative involvement something he added the government is doing to the core.
Speaking at MICAT regular press briefing Thursday, September 12, 2018, Minister Nagbe pointed out that huge wage bill in the budget does not make sense and they are working to correct the wrong and make it right for the general good of the Liberian people.
Mr. Nagbe who did not mention how much will be printed due to ongoing work noted that he is confident the introduction of the new banknotes on the local market will help immensely in addressing some of Liberia’s economic challenges.