The new Mission Director for the United States Agency for International Development (USAID), Jim Wright, says the progress that has been made on the currency reform process in Liberia is laudable.
Mr. Wright accompanied by the Deputy Mission Director, Rebekah Eubanks commended the Central Bank of Liberia under the leadership of J. Aloysius Tarlue for the technical assistance provided by his institution in achieving a very successful operation.
Paying a courtesy call on the Executive Governor on Friday August 6, 2021 at the head offices of the Central Bank of Liberia, the new USAID Mission Director expressed optimism and confidence in the ability of the CBL to manage the process.
Welcoming the USAID new Mission Director, the CBL Executive Governor lauded the partnership between USAID and the Bank and expressed reassurance of heightening collaboration with USAID and its continued assistance with specific reference to the technical assistance of USAID in the procurement and delivery of the L$4 billion in 2020 to help ease the liquidity squeeze in the country.
“When USAID hired Kroll, and Kroll came in to help us, the process was smooth, and there was no noise,” the Governor recalled.
Briefing the new USAID Mission Director further, Executive Governor Tarlue reiterated the inception of decentralization efforts from the CBL through the establishment of a cash hub in Gbarnga, Bong County that is nearing completion and passionately urged the Mission to consider support for the construction of additional three hubs in the rural areas where there are limited banks.
“Six of the 15 counties, many of which have mining communities are without banks and the establishment will not only encourage more banks to establish branches in those counties with limited banks, but also lessen the burden commercial banks face in transporting cash from Monrovia to leeward counties as well as drastically reduce the cost of doing business for them,” the Executive Governor indicated.
Buttressing the Executive Governor, the Deputy Governors re-emphasized the need for USAID to consider support for the establishment of additional cash hubs throughout the country.
Friday’s meeting was also attended by the Deputy Governor for Operations at the CBL, Nyemadi D. Pearson and Deputy Governor for Economic Policy, Musa Dukuly.