-For Promising To Make CBL Independence
By Reuben Sei Waylaun
Montserrado County electoral district#17 Representative, Hanson Kiazolu has lauded President George Manneh Weah for assuring the independence of the Central Bank of Liberia.
Addressing Legislative Reporters shortly after the President’s speech, Representative Kiazolu said the Liberian leader’s speech was timely.
According to the Montserrado County lawmaker, the reserved bank should be independence by law and the emphasis by the president is laudable.
“He must be lauded for this statement looking at the controversies that has engulfed the Central Bank. The bank needs the expertise of people who are not party driven,” Representative Kiazolu.
On Wednesday May 29, 2019, President Weah announced several steps that are expected to restore the independence of the Central Bank of Liberia.
“We are taking actions to instill greater confidence in the Central Bank of Liberia and the banking sector at large. The integrity and independence of the Central Bank will be assured and protected under my administration, and this resolve will be critical in the years ahead,” he assured.
He added “In this regard, I wish to announce that the Government of Liberia, under my leadership, will no longer borrow from the Central Bank of Liberia for its short-term liquidity needs. For monetary policy to work, Liberians must develop confidence in the banking sector.”