NATIONAL NEWS
MONROVIA – The Central Bank of Liberia says it is waiting for approval from the legislature to print additional currency to bolster the Liberian economy.
The bank’s Executive Governor, Henry Saamoi, told a gathering at the bank’s headquarters on Thursday, April 30, 2026, that the printing of additional currency is justified, but no approval has come from the legislature, which is authorized by law.
By: Trokon S. Wrepue – trokon1992seokin@gmail.com
“As to where we are with the currency printing, we are waiting for the legislature,” he said.
Governor Saamoi said that though the printing of money is a monetary policy decision of the Central Bank, the decision is shared with the legislature and is not exclusively just the CBL alone.
“Although this is a monetary policy decision of the Central Bank of Liberia, that monetary policy decision is now shared with the legislature. It is no longer single-handedly handled by the Central Bank of Liberia,” the Bank’s Governor noted.
He argued that the printing of money should strictly be a decision of the Central Bank of Liberia without the involvement of anyone, and what is done by the bank should be reported by the bank to the authority.
Liberia Could Run Out of Currency if…
Liberia could face a shortage of local currency if lawmakers fail to approve the printing of additional banknotes, authorities at the Central Bank of Liberia have warned.
The bank says its vault reserves are running critically low, raising concerns about a potential cash crunch that could disrupt economic activity.
Wussah Kamara, Senior Technical Advisor to the Bank’s Executive Governor, and Mak Kruah, Deputy Director for the Research Department of the CBL, speaking on the OK Afternoon Conversation on OK FM, called for emergency printing to avert what they describe as a looming currency crisis.
The CBL has requested approval to print 79 billion Liberian dollars, but the legislature has yet to act, despite being recalled by the President for an additional sitting.
According to the bank, two options have been proposed: the printing of “enhanced banknotes” at an estimated cost of about $34 million, or regular banknotes costing around $24 million.
Enhanced notes are designed with improved security features, greater durability, and added accessibility, particularly for the visually impaired and elderly.
Two CBL officials, speaking on the OK Afternoon Conversation program, said the situation is urgent.
They warned that if new banknotes are not printed soon, the government may be forced to pay public sector workers in US dollars, a move they cautioned could have negative consequences for the Liberian economy.
No Legislative Action Yet Despite…
While on their recess break, President Boakai reconvened the legislature for three cardinal reasons, one of which was for them to approve the printing of an additional 79 billion Liberian dollars for the economy.
Over those ten days, the legislature could not reach a decision to grant the Central Bank of Liberia the approval it urgently needs to print the additional currency.
Though executives of the CBL appeared before the Senate and were quizzed about the urgency and importance of the printing, that body gave no approval for the printing.
Some believe the request is not justified, while others think there is no reason for a rush as they are about to return to session this May.
With the back and forth between the CBL and the legislature, the fate of the Liberian economy hangs in the balance, as experts have warned that the economy may run out of Liberian dollar currency if urgent action is not taken.
Fear for Delay in Printing
Authorities at the Central Bank of Liberia have revealed that the printing of additional currency takes more than a year or two.
They fear that Liberia might go more than two years before getting the additional currency it needs if urgent action is not taken.
A CBL official hinted, “Many bigger economies across the world, including the United States of America, are all putting in requests for printing. We have a small economy, and the printing companies will have to deal with those bigger economies before attending to a country like Liberia. So we need urgent action to ensure we are ahead with our printing request to the currency printing companies, or else we might face huge challenges.”
