July 16, 2018 / 6:56 PM / 2 months ago

Liberia's Weah takes measures to tackle inflation, economic misery

MONROVIA, July 16 (Reuters) - Liberian President George Weah said on Monday he would take measures to tackle rampant inflation and economic hardship, including injecting $25 million into the forex market and taking steps to bring more local cash into the formal banking system.

“I am fully aware of the negative impact of the declining exchange rate on the economic well-being of the Liberian people, and the serious hardship that this is beginning to cause,” Weah said in an address to the nation.

“We believe a stronger and more aggressive enforcement of monetary policy ... should go a long way to ... address the problem,” he added. (Reporting by James Giahyue Writing by Tim Cocks; editing by John Stonestreet)

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