IMF Challenges CBL To Institute Stringent Monetary Policy-To Reduce Amount Of Liberian Dollars On The Market

The IMF appears unhappy over the devaluation of local currency; recommends that the CBL institutes stringent monetary policies to reduce the huge amount of Liberian dollars on the market.

The International Monetary Fund is recommending that the Central Bank of Liberia put in place a stringent monetary policy in order to reduce the huge among of Liberian Dollars on the market.

IMF Resident Representative, Geoffrey Oestriecher said the huge amount of Liberian Dollars on the Liberian market is causing increased demand for United States Dollars in transactions.

Oestriecher spoke over the weekend during a dinner organized for local and international partners on the economic sector by the Liberian Chamber of Commerce in Monrovia.

Also, Finance and Development Planning Minister, Samuel Tweah called for the transformation of the private sector in order to take over the employment of more people instead of the government.

He said the government has put in place the necessary mechanism to boost Liberian businesses by the allotment of one million United States Dollars in the national budget

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