Vote Of No Confidence Looms -As CBL’s Authorities To Fall In Trouble With Lawmaker

By, Washington Tumay Watson –

The continual constraints that ordinary Liberians and other citizens are faced with on a daily basis, relating to smaller denomination of Liberian Dollars have claimed the attention of Montserrado County District #11 Representative Richard Koon.

According  to him,  the Legislature         through a resolution approved  for the  Central Bank of Liberia  (CBL) to  print  48 Billion Liberian Dollars , beginning   with  the  smaller denominations  to address  the issue of inflection.

He said following the printing of those smaller denominations of the Liberian Dollars in line with the resolution, the bigger denomination s that included one thousand bank notes  and  that of five hundred bank notes  were going  to  be  the last  to be printed in line  with  the resolution, as a means  of addressing dollarization  that  the country  is faced with.

Speaking on Truth FM Morning Show Thursday, June 23, 2022 in Paynesville, Rep. Koon said, the Central Bank of Liberia‘s authorities  have violated   the resolution  for printing four billion Liberian Dollars , all in hundred  denominations  that  is causing serious inflection in  the country.

He said the action by the Central Bank of Liberia’s authorities to violate the resolution approved by   the Legislature, they need to be punished.

Rep. Koon said  their decision  to punish CBL Officials will based on the  Legislators  assessment  and if  they at CBL  are culpable  for such violation,  the  Legislators  will cast a vote of no confidence  in the leadership  of  the CBL.

He said the resolution states that the CBL should fight inflection.

The Unity Party Lawmaker stressed that the pervading situation cause  by CBL  to  only print  bigger  denominations  that  is   causing inflection,  has proving a  violation  of the resolution.

He said authorities of the CBL will be invited by the lawmakers to give reasons for which they at CBL did not print the smaller denominations of the Liberian Dollars first   as was instructed by the legislators.

Rep. Koon told the media that he is working behind the scene to prepare those critical questions for those of the CBL.

Comments are closed.