Summary of Key FindingsOn May 17, 2016 the Legislature granted approval for the CBL to print new banknotes totaling LRD 5.0 billion. The Legislature approval was provided in a document titled ‘Senate Resolution #002’. Following on from the May 2016 Legislature approval to print new banknotes totaling LRD 5.0 billion, the CBL requested in May 2017 that the Legislature approve a second request to print new banknotes totaling LRD 10.0 billion. The Legislature did not grant approval for the CBL to print new banknotes totaling LRD 10.0 billion. The explanation of urgency for new banknotes provided by CBL Management was inconsistent with letters sent several months prior to the initial procurement of Crane AB.

Source: Front Page Africa February 28, 2019 13:52 UTC