On Rumors of New Money Printed - Gov’t Breaks Silence

On Rumors of New Money Printed - Gov’t Breaks Silence Featured

The Government of Liberia (GoL) through Deputy Information Minister for Press and Public Affairs at the Ministry of Information, Culture Affairs and Tourism (MICAT), Eugene Fahngon, has broken silence on widespread rumors in the county that the GoL had printed new money.

Contrary to the widespread rumors, Deputy Information Minister Fahngon clarified that the Liberian government has not printed any new money as is being rumoured in recent time in the country.
 
It can be recalled that in September of this year, President George Manneh Weah formally communicated with House Speaker Bhofal Chambers to avail an opportunity to then Central Bank of Liberia(CBL) Governor, Mr. Nathaniel Patray, to discuss with the relevant legislative committees issues bordering on the need to print new banknotes.
 
Speaking at the regular MICAT press briefing in Monrovia Thursday, November 14, 2019, Fahngon, quoted by the Liberia News Agency(LINA) chided the rumour peddlers and urged them to be educated to the fact that “You can’t print money without the authorization of the Legislature and the signature of a Central Bank Governor.”
 
According to the tough talking government official, before the Legislature went for its agriculture break, they told the Liberian people and the government that there will be no printing of money until the Central Bank is restructured.
 
He said printing money requires money, adding that “if the government had that kind of money why don’t they go beyond the regularization of civil servants’ salaries.”
 
Deputy Minister Fahngon also urged the media to go beyond by convincing people why it is not possible that government has printed new banknotes without the signature of a Central Bank governor. 
 
He mentioned the recent October 8 letter from the Auditor General of the General Auditing Commission (GAC), one of Liberia’s integrity institutions charged with the responsibility to audit all government entities, addressed to the Legislature and title “Do Not Waver On Stance Against Printing New Currency.” 
 
According to Fahngon, this means “You are telling somebody that the decision you took don’t stop until you get to where you want to.”
 
He stated that people are insinuating that the GAC letter was a warning to the Legislature against approving the printing of new banknotes, clarifying: “but the letter from the GAC was written October 8 and by then the Legislature had already taken the decision and gone on break.

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