Creating ‘Hell’ For The Poor -With Almost The Disappearance Of Liberian Banknotes On The Market; While US$ Depreciates In Value Mysteriously; This Crunch Is Killing The Poor

 A survey conducted by this paper has discovered that the nation is going through a local currency crunch as it is now a common solo being sung in every street corner and at the money exchange booths that getting the Liberian dollars to exchange for United States Dollars which is a form of business transaction has become a grim obstacle to them (money exchangers) and posing unbearable frustration for them and to those they provide service to.

They also told this paper that based on the unexplained reason and  cause leading to the abrupt shortage of the Liberian Dollars, they are not only losing the United States Dollars, but are  changing the US dollars far below the stipulated rate due to the very little amount of Liberian Dollars in their possession.

According to them, due to the lumbering Liberian Dollars problem confronting them disturbingly, the exchange rate of the US Dollars to the local currency is not only unstable, but rapidly declining, something they noted was stalling their business and reflecting deep-seated  confidence crisis as the  customers harbored the perception that the money exchangers have devised the artificial Liberian Dollars shortage as a strategy to exploit them (US$ owners) of their US Dollars, which they repeatedly say is not truth.

Pundits pointed out that the unexplained grave local banknotes shortage is creating hell for the poor people who have to practically mortgage their US Dollars sent them from abroad by relatives, friends, love ones and others sources for little or nothing just to keep their noses at least above the water in such a difficult economic era.    

Another nerve-wrecking situation which makes it an alarming double-trouble is as the US Dollar diminishes in value according to the floating discouraging, for example from 196-8 Liberian Dollars to ONE US Dollar and now it is unstably between 180-70 for ONE US Dollar, and if as it gets even worse from one place to another; prices of commodities remained sky high without at least a change to commensurate with the unexplained abrupt local currency shortage, adding, this is very sad for them, pundits intoned.

It can be recalled that recently, that while the government of Liberia printed and brought into the country 4 billion Liberian Dollars all 500 bills which should be in  circulation on the market, instead the people, market places and business centers are starving from the availability of the Liberian Dollars.

Moreover, the Central Bank of Liberia (CBL) Governor, Mr Jolue Aloysius Tarlue some time ago informed the National Legislature to print additional Liberian Dollars or the market would run very low on the latter.

-Writes GDJ

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