Nimba Lawmaker Against Printing Of Money …Advises Colleagues Against Boycotting Extra-Session

Nimba County Electoral District #8 Representative, Larry P. Younquoi has rejected request from the Executive to print new banknotes as means of resuscitating the struggling economy.Recently, the Central Bank through the Executive craves the Legislature approval as required by law to print the new banknotes to replace ‘ALL’ previous banknotes even including the controversial “LR$16 billion” printed before former president Ellen Johnson Sirleaf exodus.
Speaking in a live interview with journalists, among many things, Rep. Younquoi noted that the printing of a new money is untimely and as such, will not be in the interest of the country, asserting that one cannot have an economy that is beyond repair and want to add upon it, something he said has already been dead upon arrival and will not be approved.
The Nimba County lawmaker questioned the government’s move of wanting to print new money, underlining “you already have our LD$16 billion, and cannot account for the US$25 million that was quote-on-quote infused in the economy to mop-up excess banknotes to control the exchange, then you want to print about LD$35 billion, something he described as a high measure of “insanity.”
“Do you print money to pay salaries? What is the backing of that money? The government has told us over and again that our LD$16 billion did come in the country and was received, that there exists a paper tray to show that the money is in the vault of the country. But what beats my imagination is that, how did the money get out of the CBL and enter into the hands of ordinary people? Though it is the aspect that is still under investigation,” Rep. Younquoi indicated.
He further stated that there are legitimate companies in the country that have billions of Liberian Dollars in their possession, but are not willing to put back the money in the system because they do not trust the system anymore, adding that the situation has portrayed itself that the country has more USD than LD.
“I have been paid for July and did not receive my 25% which constitutes the LD. The government has also paid me for the month of August and September, but all in the USD and the 25% has not come again, while the Bank is taking over 4,000 from me and sadly, they cut my pay down to barely under six thousand,” the Nimba County Rep. roared.
Adding; “It looks ironical to bring LD$16 billion in the country and cannot pay people. Said behavior is very wrong and only in Liberia such can happen. So you strangulated us, instead of printing money, can the government deliberately go to some factories like; Beer factory, CEMENCO, TOTAL, Aminita and SP Gas Station? Those companies have billions of Liberian dollars, not the LR$16 billion but cannot put into the system because they do not trust it, so go and give them the USD for 15-20% to pay the employees in the LD,” Rep . Younquoi alluded.
Meanwhile, the Nimba County District #8 Lawmaker has warned his colleagues of boycotting the special sitting requested by the President through the Executive Branch in accordance with the 1986 Constitution of the country to discuss national issues of concern for the common good of the citizenry and the country at large.
Article 32 b. of the Liberia Constitution states that “the President shall, on his own initiative or upon receipt of a certificate signed by at least one-fourth of the total membership of each House, and by proclamation, extend a regular session of the Legislature beyond the date for adjournment or call a special extraordinary session of that body to discuss or act upon matters of national emergency and concern. When the extension or call is at the request of the Legislature, the proclamation shall be issued not later than forty-eight hours after receipt of the certificate by the President.”
Rep. Younquoi further stated that having received a proclamation from the President, which he said is the tradition, certainly they will return because it is constitutional and any attempt for them not to return will be constitutional crisis, noting “once the Executive went through the proper channel to issue the proclamation after which the chamber concerned will raise the required signature and that contract will be consummated.”
“So no Legislature can say you do not want to come, but if you have any reason you can stay away then there will be no quorum, by that way, you have avoided constitutional crisis but it cannot be a policy of the plenary that we are not coming because you have no right to refuse to come, but what you can refuse, is to do what you have been called to do, as the normal saying “you cannot refuse the call but what is in the call,” he averred.