Africa-Press – Liberia. The House of Representatives has launched a formal review of President Joseph Nyuma Boakai Sr.’s proposal to print additional Liberian dollar banknotes between 2026 and 2030, amid growing concerns among lawmakers about possible inflation and transparency in the process.
During its session on Thursday, members of the House voted to mandate the Committee on Banking and Currency to conduct a thorough investigation into the technical details and potential economic impact of the proposed currency printing.
The decision followed concerns raised by several lawmakers regarding how the proposed printing could affect the country’s economy, particularly at a time when Liberia is grappling with inflationary pressures.
Under the House mandate, the Banking and Currency Committee has been assigned 10 key areas of inquiry as part of its investigation into the proposal.
The committee is expected to engage the Central Bank of Liberia (CBL) to provide detailed explanations regarding the technical aspects of the currency printing process.
Among the issues to be examined are the printing company responsible for producing the banknotes, the total amount of currency to be printed, the design of the new notes, and the mechanisms that will be put in place to prevent inflation.
In addition, the committee has been instructed to consult financial and economic experts to assess the potential risks and safeguards associated with the printing of new banknotes.
Lawmakers say the investigation will also examine the overall impact of the proposal on the Liberian economy, including its implications for monetary stability and public confidence in the national currency.
The House’s move comes amid public debate over the government’s plan to increase the supply of Liberian dollar banknotes over the next several years.
The Central Bank of Liberia has previously explained that the proposal is intended to address liquidity pressures in the economy and replace mutilated banknotes currently in circulation.
However, the plan has drawn scrutiny from some legislators and opposition voices who fear that excessive printing of currency could trigger inflation and weaken the value of the Liberian dollar.
Critics have also raised concerns about the possibility of misuse of funds and a lack of transparency in the currency printing process.
As a result, lawmakers say the House’s investigation is intended to ensure accountability and provide clarity to the public about how the process will be managed.
The Banking and Currency Committee is expected to present its findings to the full plenary after completing its investigation into the proposal.
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