LMA Wants Gov’t Address Exchange Rate Problem

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The Liberia Marketing Association (LMA) is calling on the government of Liberia and others financial institutions in the country to help address the pertinent issue of the US rate in Liberia.

Speaking to the national secretary general of the LMA, Pastor F. Clayplah Nagbe, said the rate was causing serious problems for marketers in the country, especially concerning the buying of goods in large quantities from dealers.

According to Mr. Nagbe, the LMA has made it their intent to constructively engage the national government to make all efforts to drop the rate.

He explained that paying of taxes in Liberian dollars as proposed by the Ministry of Finance was a great idea, but focusing on the stabilization of the rate would help the economy and the market at large.

“The prices of goods on the Liberian market continue to increase just because of the high rate. The rate can drop when the government calls on the central bank of Liberia and other financial institutions in the country and says they should drop the rate,” Mr. Nagbe opined.

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