Speaker J. Alex Tyler
Speaker Tyler Roots For Export-Based Economy
By Robert Dixon/LINA
MONROVIA, February 23(LINA) - House Speaker J. Alex Tyler says a U.S. dollarized economy without a corresponding export and manufacturing sector is a recipe for a lopsided economy.
He said without the controls or personnel as well as proper mechanisms for a stringent management of the country's banking, financial and fiscal sector, Liberia runs the risk of being exploited by money launderers and other unscrupulous persons.
According to the Liberia News Agency, Speaker Tyler made the statement Monday at a one-day High Level Roundtable Conference on the Economic and Constitutional Implications of Liberia’s Dual Currency Regime.
The conference held at the Monrovia City Hall was organized by the Governance Commission in collaboration with the Constitution Review Committee.
He said a non-export economy with a dominant currency floating around “a very weak one leads to a crisis-brewing economic environment.”
In remarks, the Chairman of the Governance Commission, Dr. Amos Sawyer, said the purpose of the roundtable was to highlight the monetary and related fiscal issues having to do with challenges faced by citizens whose worsening economic plight could be alleviated through constitutional amendment.