By Wilmot Konah
Monrovia: The House of Representatives of Liberia has sent to its Committee on Banking and Currency a proposal seeking legislative approval to print additional Liberian dollar banknotes covering the period 2026 to 2030.
The action, taken during Plenary on Thursday, April 9, 2026, follows a formal communication from President Joseph Nyuma Boakai.
In his message, the President noted that the request is consistent with provisions of the amended Act establishing the Central Bank of Liberia, which grants the institution authority to issue and regulate the national currency in support of monetary and financial stability.
He explained that the proposal aims to obtain legislative backing for increased printing capacity—including emergency measures—to ensure sufficient liquidity and sustain economic activities.
The communication also highlighted that the Central Bank has undertaken three major currency replacement exercises since 1999, with the latest between 2021 and 2024 resulting in the printing of L$48.734 billion to replace older notes valued at L$25.8 billion and to meet rising demand for cash transactions.
However, factors such as the growing circulation of worn-out banknotes, declining reserves, heavy dependence on cash, and increased demand for Liberian dollars driven by economic growth have created the need for further printing.
As of December 31, 2025, only 7.06 percent of banknotes remained in reserve—an amount described as critically low to meet liquidity demands for 2026 and beyond.President Boakai emphasized that the additional printing will help replace damaged notes, facilitate transactions across the economy, reinforce foreign exchange reserves, and support Liberia’s push toward de-dollarization and regional monetary integration within Economic Community of West African States.
He assured lawmakers of the government’s commitment to transparency, noting that the Central Bank will provide regular updates to the Legislature on the implementation and outcomes of the proposed exercise.
Meanwhile, the Committee on Banking and Currency is expected to review the proposal and report back to Plenary within the timeframe of the ongoing special session.
