President George Weah has disclosed that the government will infuse US$25 million into the country’s economy as a measure to strengthen the Liberian dollar currency.
Following President George Weah’s speech on the state of the economy on Monday, the Central Bank of Liberia has cited all foreign exchange operators to a meeting on Wednesday to find a solution to the economic crisis.
President George Weah addressed the nation in a much-anticipated speech on the state of the economy. Below is a transcript of his speech.
Amid an increasing exchange rate and a resulting high inflation, President George Weah will deliver a major address to the nation on Monday on measures his government plans to take to address the state of the economy.
Inspector General Patrick Sudue of the Liberia National Police says counterfeiting is contributing to the increasing inflation rate in the country.
As Liberia strives for solutions to tackle the current economic crisis within the country, Rep. Jeremiah Koung of Nimba’s first district is suggesting that the country print new banknotes.
Residents of Grand Bassa are appealing to the government to swiftly intervene as the accelerating depreciation of the Liberian dollar against the U.S. dollar is increasing economic hardships for rural dwellers, who mostly deal in the local currency.
Milton A. Weeks has resigned as executive governor of the Central Bank of Liberia.