Reports gathered by this paper indicate that members of the Liberian Legislature are expected to return in their chambers this Monday, 18 November at the Capitol Building to discuss some pending financial concessions and printing of new banknotes.
Senate Pro tempore of the Liberian Senate, Senator Albert Chie told reporters that lawmakers are returning to contribute and smartly resolve the economic meltdown facing the country.
Chie says the Executive Branch of government has lobbied for some financial concession agreements which need legislative action in the soonest possible time.Understanding the constraints of President George MannehWeah’s administration, Sen. Chie says the Legislature is to make a quick return to the Capitol Building.
This is the second time that the Executive Branch of government has called for the return of the lawmakers within a year.Based on reported advice from authorities of the Central Bank of Liberia (CBL), President George Weah, has written the Senate to authorize the printing of new local currency to replace the current ones.
President Weah informed lawmakers that he had received a communication from the CBL, advising that the Liberian economy may be seriously affected due to the unaccounted local currency infused into the economy that is causing high inflation.
According to him, the CBL had recommended the printing of new local currency to replace the existing ones.
Two sets of local banknotes which were separately printed during former President Ellen Johnson Sirleaf and imprisoned former President Charles Ghankay Taylor’s administrations are in use here.
“While the decision needs to be made now to address this issue that impacts the economy, it is important to note that the printing of new banknotes will require your approval, in accordance with Article 34(d) through the 1986 Constitution,” President Weah told the lawmakers.
Liberians have decried the present economic hardship in the country and called on President George Manneh Weah to urgently address the current rate of inflation.By E. J. Nathaniel Daygbor–Edited by Winston W. Parley