The Central Bank of Liberia (CBL) has sounded a stark warning that delays in authorizing the printing of L$79 billion in new banknotes could push Liberia into a potential currency crisis, as lawmakers weigh a proposal already triggering questions over cost, transparency, and economic risk.
Appearing before the Liberian Senate, CBL Governor Henry F. Saamoi cautioned that failure to act swiftly could leave the country vulnerable to serious shortages of Liberian dollar banknotes, particularly as global constraints in currency printing continue to stretch delivery times to as much as 24 months.
“Liberia risks currency shortages if the authorization for the printing of 79 billion Liberian dollars is not done in time,” Saamoi warned, describing the proposal as urgent rather than optional.
At the heart of the CBL’s proposal is an emergency request to print L$14.7 billion in 2026, followed by L$64.3 billion over the next four years through 2030.
The bank says the move is intended not only to meet growing demand for cash, but also to replace damaged notes, support reserve accumulation, strengthen the Liberian dollar, and prepare the country for future regional monetary integration.
But the proposal has ignited scrutiny.
While pressing lawmakers for approval, Governor Saamoi was unable to provide the actual cost of the printing exercise, offering only an estimate of roughly US$11 million based on past experience, while acknowledging that improved note quality could drive costs higher.
That uncertainty has fueled concern among some observers over whether the scale of the proposal, coupled with unanswered cost questions, could expose the process to controversy even as the CBL insists the risks of inaction are greater.
Saamoi pointed to what he called critically low currency reserves and warned that without timely procurement, Liberia could face shortages during peak demand periods, especially if delays extend into 2027 and 2028.
He also cited mounting international pressures, saying global demand for banknote printing has surged while supply constraints including disruptions affecting specialized currency paper have made securing printing contracts increasingly difficult.
The CBL argues the proposed printing represents less than 40 percent of current money supply and should not be viewed simply as pumping excess cash into the economy. Yet the scale of the request is likely to keep inflation fears and monetary management concerns at the center of legislative debate.
