Monrovia – The Government of Liberia through the Ministry of Finance and Development Planning and the Central Bank of Liberia has reached an agreement to revert to the old payment plan as it relates payment of Government financial obligation to businesses.
The decision was reached following an Economic Management Team (EMT) meeting between the Minister of Finance and Development Planing Boimah Kamara and the Central Bank Governor Milton Weeks.
Under the current payment policy regime, payments were done; with 80% in Liberian Dollars and the balance 20% paid in US Dollars.
But the current regime which now takes immediate effect will now see 80% payment in USD and 20% in Liberian Dollars.
This new policy now brings huge relief to members of the business community as they will no longer have hunt for US Dollars in order to carry out their businesses.
This is likely to have a significant impact in restoring value of the Liberian Dollars which had been depreciating as a result of high inflation rate in demand.