Tuesday, November 19, 2019

Devil in the details

In the story about new monetary policy of the Central Bank of Liberia you find these two comments:
“It is becoming increasingly difficult for a cash based economy to contribute on a cash based. the sooner we put that in the back of our minds and look for options using electronic works, using other digital financial tools, increasing the numbers of ATMs and increasing the numbers of points of sales, the better it becomes for all of us,” he said.


“Whenever we go the bank, they give us tear (torn) money. And when we want our money, they will say system down. It should not be like that. The system should not be down for us because when we go there to deposit our money, they can’t (never) tell us system down. This system down English (talk, excuses) is not doing well for the marketers. Let the system be up for us this holiday season,” she said.

Universal electronic transactions when the bank's systems are either down or lied about? That has got to inspire confidence.

One little change was that for the month of December, they are suspending the 25% policy--25% of all remittences into Liberia have to be converted into Liberian dollars, but for December you can keep your hard currency. A little something for their 25'th.

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