MONROVIA-The Central Financial institution of Liberia (CBL) Thursday, August 7, hosted a one-day intensive coaching on financial coverage communication for journalists. The coaching was aimed toward bettering the standard and accuracy of financial reporting within the nation.
The coaching, held on the Financial institution’s headquarters in Monrovia, introduced collectively representatives from personal and public media entities and representatives from the Press Union of Liberia (PUL). They have been drawn from each the print and digital media. The displays have been made by financial specialists throughout the CBL. The CBL desires to strengthen the media’s position in shaping knowledgeable public discourse on financial issues.
Doing the formal opening of the coaching, Dr. Musa Dukuly, Deputy Governor for Financial Coverage on the CBL, welcomed journalists and underscored the significance of the media in Liberia’s financial improvement.
“You Are Educators, Watchdogs, and Bridges” Dr. Dukuly emphasised that the media is just not merely a conveyor of stories however a essential associate in guaranteeing public understanding of complicated financial and financial points.
“You aren’t simply reporters,” he mentioned, “you’re educators, watchdogs, and bridges between complicated coverage choices and the on a regular basis lives of residents.”
He confused that the flexibility of journalists to obviously and precisely interpret financial insurance policies comparable to inflation management, rate of interest actions, trade price stabilization, and financial provide choices is important to fostering financial stability and public belief.
A view of a few of the journalists listening to the presentation from the CBL specialists
Why the Coaching Issues
Whereas acknowledging the technical nature of financial coverage, Dr. Dukuly mentioned journalists are sometimes the primary—and generally the one—supply by means of which most people learns about financial points. Misinformation, whether or not by means of misinterpretation or misreporting, can have far-reaching penalties.
“Inaccurate or poorly framed financial narratives can erode public belief, set off panic, and even misguide policymakers,” he warned.
For instance the potential influence of financial misreporting, Dr. Dukuly cited examples from throughout the continent:
Ghana (2022): Misreporting on the nation’s international reserves sparked pointless hypothesis and forex volatility.
Nigeria (2021): Misinterpreted inflation information led to exaggerated fears of hyperinflation, prompting public rebuttals by the Central Financial institution, Kenya (2023): An inaccurate report on debt reimbursement capability briefly undermined investor confidence, Liberia (2024): A false declare by an area author that “there was no cash within the financial institution” pressured the CBL to difficulty an official clarification to stop panic.
Dr. Musa Dukuly, Deputy Governor for Financial Coverage on the CBL, “These cases remind us of the fragile stability between disseminating data and the accountability of precision,” he mentioned.
Dr. Dukuly additionally acknowledged the constructive influence of accountable financial journalism throughout Africa: In South Africa, journalists have held establishments accountable whereas simplifying complicated financial insurance policies, in Rwanda, media has performed a key position in educating the general public on inflation and monetary inclusion, in Liberia, a number of native journalists have been recommended for his or her protection of forex reform and inflation traits.
“These examples display that knowledgeable reporting strengthens transparency, accountability, and public engagement,” he famous.
The Deputy Governor reaffirmed the Central Financial institution’s dedication to openness and efficient communication. He described the coaching not as a one-off occasion, however as half of a bigger technique to construct lasting partnerships with the media.
“We need to construct bridges, not partitions, between policymakers and the press,” Dr. Dukuly acknowledged. “Our technical groups are right here to help you, make clear misconceptions, and allow you to report on the financial system with depth and confidence.”
In closing, Dr. Dukuly urged journalists to take full benefit of the coaching by asking essential questions and interesting with financial ideas.
“Liberia wants a financially literate citizenry,” he mentioned. “That may solely be achieved when the media is supplied to report precisely, thoughtfully, and with integrity. ”He expressed hope that the engagement would mark the start of a stronger, extra knowledgeable collaboration between the Central Financial institution and the nation’s media professionals.
As Liberia works to strengthen its financial system and construct public confidence in monetary establishments, the position of journalists in demystifying financial coverage has by no means been extra important. The Central Financial institution’s initiative displays a rising recognition that transparency, belief, and stability start with correct and accountable journalism.
Alphonso Toweh
Has been within the career for over twenty years. He has labored for a lot of worldwide media shops together with: West Africa Journal, Africa Week Journal, African Observer and did occasional reporting for CNN, BBC World Service, Sunday Occasions, NPR, Radio Deutchewells, Radio Netherlands. He’s the present correspondent for Reuters
He holds first MA with honors in Worldwide Relations and a candidate for second grasp in Worldwide Peace research and Battle Decision from the College of Liberia.
