The Deputy Governor for Operations is responsible for supervising the day-to-day operation of the CBL, including procurement, daily banking operation and expenditure. Madam Nyemadi D. Pearson, appearing for her confirmation hearing before the Senate Committee on Banking and currency, Tuesday, highlighted a number of operational challenges affecting the smooth workings of the CBL. L$4Billion InsufficientAddressing the controversy surrounding the lack of the L$4 billion in circulation, the nominee told the Senate Committee that the CBL is working to ensure that the recently printed L$ 4 billion (Four Billion Liberian Dollars) is in circulation on the market. According to Madam Pearson, there are L$ 21 billion in circulation with huge sum of mutilated notes on the market. Supportive of Bank’s PolicyMadam Pearson told the Senate committee that she has been supportive of the Bank’s policy objectives and functions, which are critical to macroeconomic developments.

Source: Front Page Africa September 30, 2020 06:56 UTC