NATIONAL NEWS
MONROVIA – The Plenary of the House of Representatives has forwarded to its Committee on Banking and Currency a key instrument seeking legislative approval for the printing of additional Liberian dollar banknotes covering the period 2026 to 2030.
The decision, taken on Thursday, April 9, 2026, follows a formal communication from President Joseph Nyuma Boakai Sr., who is requesting lawmakers’ authorization to expand the country’s currency printing capacity in response to mounting economic pressures.
By: Trokon S. Wrepue – trokon1992seokin@gmail.com
In his communication, President Boakai cited provisions within the amended Act establishing the Central Bank of Liberia, specifically Section 6(b) and (c), which grant the institution the authority to issue and manage the Liberian dollar in pursuit of monetary and financial stability.
The President explained that the primary objective of the proposal is to ensure adequate liquidity in the economy by allowing for the printing of additional banknotes, including emergency reserves.
He stressed that such a move is necessary to support national economic policies and maintain confidence in the financial system.
According to the communication, Liberia has undertaken three major currency replacement exercises since 1999. The most recent, conducted between 2021 and 2024, involved the printing of approximately L$48.734 billion.
This was aimed at replacing legacy currency valued at L$25.8 billion while also addressing increased demand for cash transactions across the economy.
However, the government says several emerging challenges have made further action necessary.
These include a growing volume of mutilated banknotes in circulation, declining reserve levels, and an increasing reliance on cash-based transactions. Additionally, continued economic expansion has driven up demand for Liberian dollar liquidity.
As of December 31, 2025, only 7.06 percent of the country’s banknotes remain in reserve—a figure the President described as critically low and insufficient to meet projected liquidity needs for 2026 and beyond.
President Boakai emphasized that the proposed printing exercise would not only replace damaged currency but also facilitate smoother transactions in both the public and private sectors.
He added that it would contribute to strengthening foreign exchange reserves and support Liberia’s broader economic agenda, including efforts toward de-dollarization and preparedness for regional monetary integration under the Economic Community of West African States framework.
The President further assured lawmakers of the government’s commitment to transparency and accountability throughout the process.
He noted that the Central Bank will provide periodic reports to the Legislature detailing the implementation and outcomes of the proposed banknote printing programme.
The House Committee on Banking and Currency is expected to review the instrument and present its findings within the statutory timeframe of the ongoing special session.
