Senate Protempore Albert T. Chie is calling on Liberians to exercise patience as both the Executive and Legislative Branches of government are working out modalities to curb prevailing economic challenges face with by the country.
Speaking to reporters Tuesday, July 17, 2018 minutes after the Senate concluded a lengthy meeting with the Economic Management Team (EMT) which was set up by the President, Protempore Chie said efforts are being made by some of the brightest economists of the country to come up with solutions to the economic problems of the country.
According to him, issues basically discussed during the meeting were to implement the recent statement of the president which calls for the mopping out of the excess liquidity which is estimated at 15 billion Liberian Dollars in circulation.
He said President Weah was in the right direction for coming up with some rigorous economic plan that will in the shortest possible time stabilized the rapid increase in the exchange rate between the Liberian dollars to the United States dollars.
“The 25 million United States that will be infused into the country’s local economy will definitely serve its purpose. It will drastically reduce the excess liquidity of the Liberian dollars that are in circulation giving our local currency more value this time around,” he said.
Though the Senate Protempore could not reveal in detail some of the plans that will be coming up by the EMT, he said the Central Bank of Liberia (CBL) will in the main time play an intermediary role between money-exchangers and those who are directly involved in the movement of the country’s economy.
Pro Tempore Chie is meanwhile calling on citizens to exercise restraint as the government comes out with solutions in addressing their economic concerns.
“Like the president said yesterday, I too want to call on all our people to be very patient as everything is being put into place to resolve this matter,” he accentuated.