Demonetizing the Liberian Dollar will ensure that the Ministry of Finance and the Central Bank account for the total amount of Liberian Dollar in circulation. Liberian businesses will definitely breathe a sigh of relief knowing that they can fairly compete (even in their shortcoming) with foreign owned businesses and survive. The single currency (Liberian Dollar) regime will ensure that the Central Bank maintain its control over the exchange rate and keep the Liberian Dollar stable. Legislating the budget in Liberian Dollar goes with the expectation that all transactions involving the government (within Liberia) will be done in Liberian Dollar. All cash-based interaction must be conducted in the Liberian Dollar, including salary payment.

Source: Front Page Africa May 13, 2019 16:52 UTC