President Ellen Johnson Sirleaf
Pres. Sirleaf Wants Legislature Respond To Currency Shortage
By Wilfred Gortor, LINA
MONROVIA, March 3 (LINA) - President Ellen Johnson Sirleaf has informed the Liberian Senate about the shortage of Liberian currency on the market, and urged it to agree on a way forward with the Acting Governor of the Central Bank for the printing of additional bank notes.
President Sirleaf said she received two communications from the Central Bank of Liberia (CBL) advising that the economy of Liberia may be seriously affected due to the lack of local currency to meet national transaction needs.
In a communication read Thursday at the 14th Sitting of the 5th Session of the Liberian Senate, President Sirleaf attributed the delay in printing of the nation’s currency to the interpretation of Article 34 (d) of the Constitution and of the Act authorizing the establishment of the CBL as amended.
Article 34 (d) of the Liberian Constitution authorizes the National Legislature to levy tax, duties, borrow money, issue currency, mint coins and make appropriations for the fiscal governance of the republic.
President Sirleaf noted in her communication that according to the letters she received, the CBL is of the opinion that relative to Article 34 (d) of the Constitution the legislature has granted implicit approval to the CBL to issue local currencies.
“I believe that the legislature has registered a contrary view,” President Sirleaf opined, adding, “These issues of interpretation should be resolved at an appropriate time, preferably sooner than later.”
She noted that she has advised the acting Executive Governor to seek the opportunity to discuss the matter with the concerned committees of the Liberian Legislature in an effort to conclude arrangement for the printing of the Liberian currency.