Economic troubles: Why the Liberian Dollar is Depreciating?

By Lawrence Kennedy | Globe Afriique|

Since the end of 2017, the Liberian Dollar (LD) has been free-falling like an empty barrel down a very steep hill. The quickened depreciation of the LD and weaknesses in Liberia’s economy were foreseen in an article I published on Globe Afrique back in January 2018, in which I listed the economy as a significant challenge facing the new administration.

My concerns were based on a review of the Central Bank of Liberia’s economic data and the rising strength of the United States (U.S.) economy. Today, the prediction is fast becoming reality since the LD is falling because of a high rate of money growth of Liberian dollars in circulation, failure of the Governor of the Central Bank of Liberia to meet five essential objectives of the central bank’s monetary policy, a strong U.S. dollar, and a week and unstable Liberian economy.

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About Cholo Brooks 16138 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.