Montserrado County District 9 Representative Munah Pelham-Youngblood has alarmed over the shortage of the five Liberian dollar banknote on the local market.
Pelham-Youngblood observed that the situation is posing economic hardship and suffering for the “poor masses”, noting that when one gives LD20 to purchase an item that costs LD15, he or she does not get change in return due to the shortage of the five dollar banknote.
She has therefore requested the Plenary to mandate the House Committee on Banking and Finance to meet with authorities of the Central Bank of Liberia and commercial banks operating in the country to give reasons for the shortage of the five dollar banknote on the Liberian market.
Pelham-Youngblood has accordingly challenged the House to use its oversight authority to ensure that the public is protected at all times, even during the period of transaction, adding, “we must make sure that the Central Bank ensures the free flow and availability of all banknotes on the Liberian market.”
After the communication was read in Session on Tuesday, Plenary forwarded it to the Committee on Banking and Currency for review and recommendations with the mandate to report in two weeks.