NATIONAL NEWS
CAPITOL HILL – Rivercess County Senator Bill T. Twehway has introduced a sweeping economic reform bill in the Liberian Senate aimed at tying the strength of the Liberian dollar to the country’s gold resources.
The proposed legislation, titled the Gold Reserve and Currency Stabilization Act of 2026, seeks to curb inflation, build national reserves, and reinforce confidence in Liberia’s monetary system.
By: Sampson W. Weah sampsonwwesh7@gmail.com
Presenting the bill, Senator Twehway said the measure is designed to ensure that Liberia’s mineral wealth directly contributes to economic stability.
“For too long, our gold has left this country without strengthening our currency,” Twehway said. “This bill will make Liberia’s mineral wealth a shield for our economy and a pillar for monetary stability.”
Central Bank to Lead National Gold Purchase Program
At the core of the proposal is a requirement that the Central Bank of Liberia establish a National Gold Purchase Program.
Under the plan, the Central Bank would be granted the Right of First Refusal to purchase a portion of all gold produced in Liberia before it is exported.
The objective is to build tangible national reserves capable of supporting the Liberian dollar.
“We are empowering the Central Bank to build real reserves, not just paper figures,” the senator emphasized. “Gold will serve as a strategic buffer against inflation and currency depreciation.”
Key Provisions of the Bill
The proposed legislation outlines several major policy measures aimed at strengthening the country’s monetary framework.
It mandates a one percent in-kind gold royalty on medium- and large-scale mining operations, payable in physical gold rather than cash.
The bill also authorizes the use of accumulated gold reserves to support the Liberian dollar, ease inflationary pressures, and improve Liberia’s international credit profile.
Additionally, it provides for the establishment of a National Gold Refinery, offering incentives to encourage domestic processing of gold.
Within 36 months of enactment, all raw gold exported from Liberia would be required to be refined locally to at least 95 percent purity or be subject to a refining surcharge.
The legislation further prescribes strict penalties for gold smuggling and the falsification of production records, measures aimed at curbing illicit trade and revenue losses.
Oversight and Transparency Mechanisms
To ensure accountability, the bill calls for the creation of a Gold Reserve Oversight Committee to supervise implementation.
The committee would comprise representatives from the Ministry of Finance and Development Planning, the Central Bank of Liberia, the Ministry of Mines and Energy, and the Liberia Chamber of Commerce.
“This process must be transparent,” Twehway stressed. “Liberians deserve to know how much gold we have and how it is helping to strengthen their currency.”
Under the proposal, the committee would publish quarterly reports detailing the status of national gold reserves and assessing their impact on currency stability.
Immediate Implementation and Broader Impact
According to the draft legislation, the Act would take effect immediately upon passage into law.
“This is not just a mining policy; it is a currency survival policy,” Senator Twehway declared. “If we want a strong Liberian dollar, it must be backed by real value.”
If enacted, the bill would represent a significant shift in Liberia’s monetary policy framework, placing gold reserves at the center of efforts to stabilize the Liberian dollar, manage inflation, and shield the economy from external shocks.
