Africa-Press – Liberia. By Lincoln G. Peters
MONROVIA, April 22, 2026 – The Central Bank of Liberia (CBL) has asked the Liberian Senate for authorization to print LD$79 billion over the period 2026 to 2030, while seeking an emergency approval of LD$14.7 billion for 2026 to respond to what it calls a growing demand for banknotes on the local market.
CBL Executive Governor Henry F. Saamoi made the disclosure on Tuesday, April 21, 2026, during a hearing at the Liberian Senate, where he said the request is intended to align currency supply with market demand.
“Our proposal is to bring LD$79 billion to cover the period 2026 to 2030, but we want to note that this represents less than 40% of the current money supply, with the U.S. dollar dominating transactions in the country. We are not printing new money; we are only printing additional banknotes,” Saamoi told senators.
However, the hearing turned tense as some senators challenged the CBL for not stating, with specificity, the exact quantity to be printed under the broader plan and the definitive cost of the exercise.
Senators also questioned what they described as the limited time being requested for an emergency approval of the LD$14.7 billion for 2026 and pressed the Bank to justify the urgency.
In response, Saamoi said issues relating to the timing of the request are “executive questions,” adding that he could not address them on the record but could discuss them with lawmakers in a closed-door engagement.
On cost, the CBL Governor said the estimated price, based on previous negotiations—stands at about US$11 million but maintained that the Bank cannot provide a final figure until the Legislature approves the amount to be printed and a formal quotation is obtained from the printer.
Providing an update on the emergency component of the plan, Saamoi said the CBL is seeking immediate legislative approval to print LD$14.7 billion in 2026 to meet what it sees as current transaction demand in the economy.
“So, for the emergency printing in 2026, it is LD$14.7 billion, based on the movements of the exchange rate that we saw back in 2024–2025, where we estimated that probably the exchange rate could be about 200. So, of the LD$14.7 billion projected for 2026, LD$10 billion is intended for reserves. So, the LD$4.7 billion, plus what we have now, is what we are projecting for meeting transaction demands in 2026,” he explained.
He said the Bank will then proceed with a competitive bidding process for the remaining LD$64.3 billion, while assuring Liberians that the CBL will not print and bring in money in 2029 because it is an election year.
“This will be an open and international competitive bidding process. And the objective is to ensure transparency on medium-term cost issues. So, for the emergency procurement, we are considering a single source for all the printers that printed the 100 Liberian dollar bills for us and the 500 Liberian dollar bills. So that’s what we intend for the year 2026, to go back to those two printers,” Saamoi said.
Meanwhile, justifying the proposed LD$79 billion printout, Saamoi cited what he called economic growth and higher transaction demand, noting that the economy continues to expand, with the Senate having approved a US$1.2 billion national budget.
He said Liberia recorded economic growth of 5.1% in 2025, an indicator, he argued, that the country should have sufficient currency in circulation to meet transaction needs.
Additionally, he pointed to what he described as changes in the approval and procurement timeline, now stretching from 12 months to 24 months for printing and arrival of banknotes, as another factor informing the request.
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