Following the quarterly meeting
of its
Monetary Policy Committee (MPC) on 19 May 2021, the Central Bank of Liberia (CBL) resolved to strengthen its engagement with commercial banks to mitigate the risks of non-performing loans on financial sector stability, with the aim of improving asset quality and loan appraisals.
The CBL has also resolved that loan recovery be aggressively pursued, in compliance with its regulations.
Announcing the monetary policy decisions on behalf of the Monetary Policy Committee, CBL Executive Governor J. Aloysius Tarlue said, in addition to engaging with commercial banks to mitigate the risks of non-performing loans, CBL will initiate discussions with the Government of Liberia and other stakeholders for the establishment of specialized development finance institutions to support lending to critical growth drivers of the economy, especially agriculture and manufacturing.