Economy

Without Authorization How the MFDP exceeded Legislative Appropriation by US$40.8M … GAC Audit Report unravels

Two Audit reports of the Consolidated Fund Financial Statements of the Government of Liberia(GoL) for the fiscal year July 1, 2020 to June 30, 2021 and the  Special  Fiscal year July 1, 2021 to December 31, 2021 tabled to the National Legislature by the General Auditing Commission (GAC)  show that the Ministry of Finance and Development Planning exceeded the authorized appropriation by the National Legislature     for 10 ministries and agencies  by US$ 21,787,430 for fiscal year July 1, 2020 to June 30, 2021 and 53 ministries and agencies by  US$ 19,015,320 for the Special Fiscal year July 1, 2021 to December 31, 2021.

11/Aug/2023

Economy

Governor Tarlue calls for Fiscal and Monetary Coordination to Promote Macroeconomic Stability in Africa

The Executive Governor of the Central Bank of Liberia (CBL), J. Aloysius Tarlue, Jr. has called for strong coordination among African fiscal and monetary authorities to promote macroeconomic stability on the continent.   Governor Tarlue made the call at the 45th Annual Meeting of the Association of African Central Banks (AACB), held in Livingstone, Zambia from July 31 to August 4, 2023.

08/Aug/2023

Economy

To strengthen Liberian Dollar, CBL increases Monetary Policy Rate to 20%

The Board of Governors of the Central Bank of Liberia (CBL), proxying for the Monetary Policy Committee (MPC), increased the monetary policy rate (MPR) by 250 basis points to 20%, aimed at reversing the recent trend in the depreciation of the Liberian dollar. The decision was made during the Board’s sitting on 20 July 2023.

01/Aug/2023

Economy

GOL is working to produce Huge Quantity of Rice Locally

Deputy Finance and Development Planning Minister for Budget and Development has said the Government of Liberia(GoL) is working towards the production of five hundred and ten thousand metric tons of rice annually in Liberia.

20/Jul/2023