US Embassy’s Cost d’Affaires, Joseph E. Zadrozny assures his authorities’s dedication to supporting an unbiased Central Financial institution of Liberia
Monrovia, Liberia – The Central Financial institution of Liberia (CBL) is advancing plans to diversify the nation’s reserves by gold, a strategic step geared toward strengthening monetary stability whereas safeguarding its operational independence. Govt Governor Henry F. Saamoi made the disclosure in the present day throughout a courtesy go to by the US Embassy’s Cost d’Affaires, Joseph E. Zadrozny.
Governor Saamoi defined that the Central Financial institution is main research excursions in Ghana with the Financial institution of Ghana and a gold refinery in Dubai to benchmark finest practices in gold reserve administration, emphasizing that the transfer is central to making sure resilience and confidence in Liberia’s monetary system.
“Diversifying our reserves with gold supplies each stability and safety for Liberia’s economic system. However equally essential, these efforts underscore our independence as a Central Financial institution—free from interference, clear, and accountable to the Liberian individuals,” Governor Saamoi said.
The Cost d’Affaires reaffirmed the US Authorities’s robust assist for Liberia, saying the resumption of the US Treasury’s Workplace of Technical Help (OTA) assist to the Central Financial institution of Liberia and a deliberate go to of the OTA to Liberia this September. He additionally highlighted renewed help to strengthen Liberia’s insurance coverage sector, together with assist for the institution of an Insurance coverage Fee that can in the end function the only real regulator of the Insurance coverage Sector.
Each side mirrored on the Federal Reserve Financial institution of New York’s latest go to to the Central Financial institution of Liberia, which famous substantial progress in Liberia’s monetary sector since its final evaluation three years in the past.
Governor Saamoi additional outlined different priorities underneath the Financial institution’s strategic plan, together with the launch of the Liberia Cost and Interbank Settlement System and the institution of a state-of-the-art coaching heart. He careworn that whereas cooperation with companions is important, the Financial institution’s independence stays paramount.
“The Central Financial institution of Liberia will proceed to welcome exterior collaboration, however our autonomy is non-negotiable. It’s the basis for sound financial coverage and sustainable financial development,” he affirmed.
Cost d’Affaires Zadrozny counseled the CBL’s initiatives and pledged continued US partnership, reinforcing America’s long-standing dedication to Liberia’s financial growth.
This go to marks an extra strengthening of bilateral ties, with a shared concentrate on good governance, monetary stability, and a diversified future for Liberia’s economic system.
