Authorities of the Central Bank of Liberia (CBL) yesterday inducted a new Governor on its Board as well as Acting Governors of the Board of Governors of the bank, a release said.
Those inducted, according to the release, are Mrs. D. Sheba Brown, Governor of the Board of Governors; Acting Board Governors Mr. Richard Dolley and Mrs. Elsie Dossen Badio.
The ceremony was held on Thursday, June 14, at the bank’s head offices in Monrovia.
The Executive Governor, Milton A. Weeks, in a statement congratulated the new Board members on their accession to the Board of Governors.
Governor Weeks underscored the important role the Board plays in shaping the policy direction of the CBL.
The Board’s work goes beyond policy making into oversight of the CBL’s functioning, through Board Committees, particularly the Audit and Investment Committees.
The Governor assured the newly-inducted Board Members that they will see no change in this stance, “only my continued effort as chairman to foster a culture of collegiality, productivity and continuous learning…”
He urged the Board to join him in shaping that culture, which can only set a positive example to the staff of the core values that the Board has set for them, such as integrity, efficiency, innovation, inclusiveness, teamwork, transparency and fairness.
Governor D. Sheba Brown, who responded on behalf of the newly-inducted members of the Boards, thanked President George Weah for their preferment and pledged their unflinching support to his vision.
Mrs. Brown described their appointment as a testimony of their years of experience from the National Bank of Liberia to the Central Bank of Liberia, and the vision of President Weah to appoint individuals with high level of experience, dedication, commitment and patriotism who will promote his “Pro-poor Agenda.”
Governor Brown expressed the hope that their presence on the Board would generate discussions and provide viable policy options that would assist to resolve the numerous economic challenges facing the country.
She noted that monetary policy alone is not sufficient to bring about the desired economic growth. “We must carefully balance monetary and fiscal policy measures. Side by side, with economic stimulus measures, we must intensify our surveillance and give guidance to the operations of our financial institutions,” the newly-inducted CBL Board Governor emphasized.
The former CBL Director of Administration called for concerted efforts toward the harmonization of macroeconomic policies as well as the coordination between the fiscal and monetary authorities, so as to promote long term inclusive and sustainable growth and development.
The occasion was witnessed by Senior Executives of the CBL as well as friends and family members of the newly-inducted Board members. A third Acting Governor of the Board of Governors Nathaniel Patray is to be inducted into office today, June 18.