By, Washington Tumay Watson –email@example.com
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.