Nimba County District One Representative Jeremiah Kpain Koung publicly accuses business communities here of involvement in printing Liberian banknotes in Chine and bringing them to the country to flood the money market.
He says some unscrupulous business people travel from Liberia to China under the pretext of going to buy goods, but their actual motive is to print money.Representative Koung discloses that he has proffered a bill in the House, calling for the printing of new Liberian banknotes to help combat the wave of counterfeits in the money the market.
He says the new banknotes would be printed under the watch of state security to avoid counterfeiting.The Nimba lawmaker laments the current economic hardship in the country as a result of depreciation of the Liberian dollars.
He suggests the country seeks loan from outside to print new banknote.In a live address to the nation on the current state of the economy on Monday, 16 July President George Manneh Weah announced series of medium and long-term prescriptions to salvage the economy, including immediate injection of US$25 Million in circulation to mop up excess liquidity and strength the Liberian dollar, at least in the short term, while other measures are being considered.
By Thomas Domah/Nimba–Editing by Jonathan Browne