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Politics News

Tarlue vows to restore hope at CBL

Newly appointed Executive Governor of the Central Bank of Liberia, Mr. J. Aloysius Tarlue, Jr., speaking at his induction ceremony held at the CBL Board Room Friday, expressed gratitude to President Weah for his preferment with assurance that he will work diligently to ensure that the CBL will be governed by professionalism, ensuring accountability, transparency and independence. Mr. Tarlue also emphasized that he will work to restore confidence by rebranding and repositioning the CBL, which he believed is a pre-requisite to restoring confidence in Liberia’s banking system.

He, however, lamented that CBL is always in the news, making headlines, which is not how traditional Central Banks conduct their businesses. He pledged to change that culture, and this will require that ‘all hands be on deck’.

“I come to CBL with no pre-conceived notions and biases, but with a clear conscience to work with the Management Team to reform and restructure the Bank. I don’t claim to know all but at the same token I will leverage on the institutional knowledge of our staff in my duties and solicit Technical Assistance from our international partners,” Mr. Tarlue said.

He also praised CBL for having written great policies, however the next step is to ensure the implementation and enforcement of these policies, which he promised to focus on, working with the ‘great team’ that exists at the CBL.

Tarlue said he was not oblivious of the fact that there were serious economic challenges and other issues of international magnitude beyond Liberia’s control, but that ‘we must control the fundamental issues that affect us’ and ensure that the fundamentals are put in place.

H also pledged to work cooperatively with the fiscal authorities because fiscal and monetary policymakers need to work together to ensure we have a vibrant and growing economy. He is the fifth Executive Governor to have been appointed since the Central Bank of Liberia was established 20 years.

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