PHOTO: Alex Cummings
By Our Staff Writer
As debate begins in the Liberian Senate, the political leader of the Alternative National Congress (ANC) Alexander Cummings, has written Senator, urging them to delay approval to print 48 billion Liberian dollars as requested by the Central Bank of Liberia (CBL).
He said in his letter to Senate President Pro Tempore, Albert Chie, that this his recommendation is aimed at avoiding “unintended consequences”. In the face of the harsh economic realities, Cummings first wants accountability for previous monies printed and brought into the country.
Printing of the new money without accountability for some 25m USD allotted for mop up exercise in 2019, “could lead to international sanctions against some officials of the CDC government for money laundering”, the NC leader warned.
He wants the senators to investigate what has led to what he sees as an apparent breakdown in confidence and loss of control over the nation’s monetary policy under the current government.
Amount requested by CBL to be printed was too huge in the face of lack of accountability by government for previous monies, he argued, saying that’s reason enough for the senate to reject the request to print additional money.
In a related development, Liberty Party (LP) Chairman Musa Bility has lashed at opposition lawmakers for signing for the printing of the proposed new bank notes, saying their action amounts to betrayal of the trust and confidence reposed in them by the electorate.
He said he had expected opposition lawmakers to first meet with their respective parties before taking any position on the proposal to print 48 billion Liberian dollars from the CBL.
Bility has consequently revealed that Liberty will not allow such lawmakers to run on the party’s ticket in future elections. He is likewise urging other parties making up the CPP to do likewise or risk losing the support of LP.
The senate Tuesday began debating the CBL proposal for additional minted notes.