Capitol Hill, Monrovia: — The Central Bank of Liberia intends to print additional L$79 billion in new banknotes from 2026 to 2030 and is proposing a L$2,000 denomination as part of the exercise, Executive Governor Henry Saamoi disclosed to the Liberian Senate on Tuesday.
Appearing at a Senate hearing, Saamoi said L$14.7 billion will be printed in 2026, with the remaining L$64.3 billion to be produced in the years that followed.
Plan targets old notes, reserves, and policy tools
The Executive Governor told Senators the printing program is “not just to add more money into the economy.” The new notes will replace old and damaged banknotes, respond to growing cash demand, and support wider monetary objectives.
He puts the damaged notes at 7 percent annually of the L$48 billion previously printed.
Governor Saamoi said the plan is also designed to strengthen the Liberian Dollars, and improve monetary policy operations.
The CBL Governor also mentioned that the proposed L$79 billion is not the amount initially proposed as the initial proposed was far above L$ 79 billion.
He added that the amount proposed is an estimate from now to 2030, adding ” If we move to the “De-dollarization” regime , there will be a need for additional banknotes beyond L$79 billion”.
L$2,000 note proposed
The bank’s proposal includes a L$2,000 note, which would become Liberia’s highest denomination if approved.
The current highest bill is L$1,000.
The Governor is yet to disclose the amount required to print the 79B towards the printing of the proposed banknotes.
The proposed additional banknotes printing and new denomination require legislative approval before the CBL can proceed.
The bank’s last major printing and replacement cycle was authorized in 2021.
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