The Board of Governors of the Central Bank of Liberia (CBL), proxying for the Monetary Policy Committee (MPC), met on Wednesday, 25 October 2023 and resolved to maintain the existing monetary policy rate (MPR) of 20% and the reserve requirement ratios of 25% for Liberian dollars (L$) and 10% for United States (US) dollars. The Board’s decisions were made in the wake of the prevailing global economic developments that have trickle-down effects on the domestic economy. The Domestic EconomyLike the global economy, the domestic economy also showed mixed trends during the period under review. The domestic economy grew cumulatively to 4.5% at end-quarter three 2023, induced by increased cement and beverages production, increased electricity generation and increased government services. Total loans and advances, total assets, total deposits, and total capital increased, although credits to the manufacturing and agriculture sectors remain low, coupled with high non-performing loans (NPLs).
