The Economic Management Team (EMT) has mop out over $239 Million Liberian dollars in excess liquidity out of the market on President George Manneh Weah’s mandate, the Executive Mansion says in a release issued Wednesday, 18 July.
“This signifies the President’s commitment to stabilise the economy through the implementation of stringent regulatory measures and strong monetary policies both short and long terms in addressing the current rapid depreciation of the Liberian dollar to the U.S. dollar,” the release adds.
The move comes days after President Sirleaf addressed the nation on the state of the economy here and announced and immediate infusion of US$25m into the economy in an effort to mop out excess Liberian dollars on the market.
“… [We] are excited to announce to the public that the exercise has begun and is in full-swing,” the Mansion says, adding that within two days of the President’s mandate, the EMT has mop out over $239 Million Liberian dollars in excess liquidity out of the market.
The Mansion says it cannot emphasize enough how resolved and committed the President is, in addressing the current economic crisis Liberia is confronted with.–Press release