Liberian Dollar


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Liberian Dollar

The currency of Liberia. The dollar was introduced in 1943. After a coup d'etat in 1980, many businessmen took currency out of the country, creating a shortage. During the civil war (1990-2004), Liberian dollars were looted from the Central Bank of Liberia; in response, it created a new design for some currency notes. This created effectively two currencies: a legal one authorized by the Central Bank, and an illegal one based on the looted dollars. The Liberian economy still relies on a large amount of foreign aid.
References in periodicals archive ?
While the contract amount for the printing of the 5,000,000,000 Liberian dollar banknotes was US$5,210,000, the indictment adds that co-defendants Weeks, Sirleaf, Hagba, Walker and Dennis allegedly paid to Crane Currency the amount of US$5,611,469.58, an excess of US$401,469.58.The indictment details that there was no signed letters for the extra Liberian dollar banknotes printed as provided for in the contract.
The deterioration of the economy is largely derived from rapid depreciation of the Liberian dollars and an inverse increase in prices.
Minister Tarpeh says the regulation will take effect as of August 1 this year, and will cover transactions in Liberian Dollars for issuance of licenses, passports and paying of school fees, among other services.
He says some health workers got some United States Dollars and Liberian Dollars which combine fall short of their regular pay, and still others in the same categories have got no pay at all.Mr.
dollars for their services, even though the news organizations' revenues are in Liberian dollars, which is very low in value when compared with the U.S.
The cost of living has shot skywards and has remained there, for example, the cost of rice, the staple food, is exorbitant - a 50-kilo bag costs almost 1,000 Liberian dollars (US$1 = L$40).
Unlike the current practice where for instance someone who wants to buy goods from Nigeria but have Liberian Dollars (LRD), needs to first change the LRD to United States Dollars (USD), and upon getting to Nigeria, change the USD to Naira, the proposed framework is envisaged to make Naira available through the financial system in Liberia.
Tweah Jr., says he will never engage in any fraudulent activities against Liberia, denying wrongdoings in the recent mop-up exercise which was geared towards stabilizing the Liberian dollars depreciation against the United States dollars.
This is detrimental to the living standards of the most vulnerable Liberians who earn and spend primarily in Liberian dollars and threatens the success of the pro-poor agenda.
Dumbar Hospital in Bong County went to him, crying because they were seriously affected from the harmonization with some receiving as low as 50 Liberian dollars as monthly salary.
He reveals that series of text message directed to his mobile phone supposedly by employees of government speak to significant reduction of monthly salary, detailing that one notable message came from a woman claiming to be a healthcare worker assigned in one of Liberia's southeastern counties, suggesting that her salary has been reduced from 37,000 to 13,000 Liberian dollars.

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