Monrovia- The Minister of Information, Culture and Tourism Hon. Eugene Nagbe has Confirmed the printing of New bank Notes.

Speaking at the MICAT Regular press briefing, The government spokesman said the government of Liberia has decided to print new Liberian bank notes and remove the current Liberian Dollars that are in circulation on the Liberian market, as a way of implementing one of the recommendations from the just ended National Economic Dialogue Forum.

Penalists at the Economic Forum stated in one of their recommendations to the government that she should change the current Liberian bank notes as a means of restituting the Economy and reduce the alarming US rate which is greatly harming the Country.

Minister Nagbe who did most of house keeping at the MICAT briefing today said that there will be a mechanism put in place to protect the new currency when it is printed. The minister failed to announce the total amount of money to be printed at the press conference today.

But sources in government have said that the total amount of money that has been estimated to be printed the government is 35 Billion Dollars but not all of the monies will go into Circulation.

According to one of our sources, the new money when printed will be placed into two Vaults. Reserve and Operational Vaults. The one place in the operational vault is what we refer to as money while the one place in the reserve vault is not money until it enters the operational vault.

Fifteen(15) Billion of this money when it is printed will go directly into Circulation. These are monies that will be use by people to run their Homes,their Businesses and some place in their Banks Account.

Ten(10) Billion will be placed in the reserve Vault. This will be money that the CBL will hold in reserve. It will be Money by Commercial Banks or Government in reserve. This is where it is expected that government will take money from to replace old banknotes.

Five(5) Billon will be place in the Operational Vault of the CBL. This portion of the money printed will be use to support the Financial Sector.