Liberian central bank cuts rates amid new banknote controversy

The Central Bank of Liberia
The Central Bank of Liberia
Jefferson Krua / Wikimedia

Liberia’s central bank has cut policy rates, issued new debt instruments and changed banks’ minimum currency reserve ratios, days after its third governor in four years was appointed.

The central bank warns of falling GDP growth, rising inflationary pressures and a low level of foreign currency reserves. Its move comes as local media sources report further developments in the country’s “banknote scandal”.

The Central Bank of Liberia says its board was cutting the standard deposit facility rate

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