Monrovia – The Presidential Press Secretary, Isaac Solo Kelgbeh, has disclosed that the House of Representatives has passed the resolution for the printing of new banknotes totaling L$30 billion, however, the House Banking and Finance Committee Chairman, Rep. Dixon Seboe, says he is unaware of such resolution.
Report by Willie N. Tokpah, [email protected] & Gerald Koinyeneh, [email protected]
Mr. Kelgbeh made the disclosure on Tuesday during a regular press briefing at the Executive Mansion.
He said, “The Lower House has passed the printing of new banknotes and made some recommendations for L$30 Billion to be printed. These are some of the recommendations that came from the National Economic Dialogue.”
According to him, when concurred by the Senate, Liberia a new family of banknotes would be printed.
“After the approval of the Liberian Senate, the current Liberian dollars currency will be changed. As to when the money is expected is depended on when the Senate will sign in agreement with the lower House,” Mr. Kelgbeh said.
He said following the legislative procedures, the government will then make a determination on where to print the new banknotes or which company whether Crane Currency or any other company.
Kelgbeh said the printing of banknotes is one of the stance that President George Weah has taken to address the prevailing economic constraints faced by Liberians.
“The Lower House has passed the printing of new banknotes and made some recommendations for L$30 Billion to be printed. These are some of the recommendations that came from the National Economic Dialogue.”
– Isaac Solo Kelgbeh, Presidential Press Secretary
However, he said this decision could not be possible at a time when the Central Bank of Liberia (CBL) was not fully functioning.
“In the absence of the full functioning of a Central Bank, certain decisions cannot be made and we hope that members of the Senate can act swiftly for the wellbeing of our people,” Kelgbeh asserted.
The Presidential Press Secretary’s pronouncement follows Nimba County’s District #7 Representative Roger S.W.Y. Domah’s recent revelation that a resolution authorizing the printing of new ‘family’ banknotes to replace the legacy banknotes was set for approval by the Legislature.
Rep. Domah, in an interview with reporters at his Capitol Building offices last week stated that the resolution is expected to be approved by the Legislature during this current extraordinary sitting.
The resolution, according to him, was drafted by the House Committee on Banking and Currency prior to the constituent break and was expected to be placed on the agenda to be forwarded to the Liberian Senate for concurrence soon.
However, the resolution has not been placed on the House’s agenda in open session, although discussions on the matter have mostly been held behind closed doors or executive sessions.
When contacted to verify the Executive Mansion’s claims, the Director of Press acknowledged that the resolution authorizing the Central Bank of Liberia (CBL) to print new banknotes to replace the old one has been approved by the House. He, however, fell short of giving the total value of money that has been approved for printing.
But the Chairman on Banking and Currency at the House of Representatives, whose Committee crafted the resolution, Rep. Dixon W. Seboe (Montserrado County District #16) bluntly told FPA that he is not aware that the House has approved the resolution