The Economy


Dr. Jones Addresses NAPEX Women at Monrovia City Hall on Saturday

Ebola Puts Liberia’s Economy in ‘New Territory’

A forceful action is necessary to restore Liberia’s economy to normalcy because Ebola has put our financial system in new territory, says the Executive Governor of the Central Bank of Liberia, Dr. J. Mills Jones.

Meanwhile poverty still remains high in the country and therefore Liberians must lead the effort to restore the national economy, Dr Jones maintains.

 “That is why the Board of the CBL decided to take steps to help the rural economy and put new life into the microfinance sector of the country,” he added.

‘Dynamic and Progressive’

Central Bank Executive Governor Dr. Joseph Mills Jones has received commendation for his progressive and dynamic stewardship of the monetary arm of government.

The commendation was made last week by experienced Liberian banker John B. S. Davies, II. Mr. Davies, who is president of the Liberian Bank for Development and Investment (LBDI), said the history of the banking industry is being rewritten by Governor Jones whose strong leadership, he observed, has brought significant transformation to the industry in particular and the economy in general.


CBL Executive Governor, Dr. Jones makes remarks at the farewell ceremony of Adeleke

“Economic Recovery Will Be Difficult” If…

The Executive Governor of the Central Bank of Liberia, Dr. J. Mills Jones, has called on banking institutions operating in the country to play a meaningful role in the economic recovery of the country.

According to him, without the banking sector playing its role of intermediation that it should, the economic recovery of the country will be very difficult to handle.

Dr. Jones made the assertions last Friday at the farewell dinner held by Ecobank-Liberia in honor of the outgoing managing director, Kola Adeleke. The ceremony was held at the Monrovia City Hall.


Mr. & Mrs. Kola Adeleke receives award from the Ecobank family for their “immense contributions to growth and development in Liberia”

Ecobank Gets New Managing Director

Mr. Gilles Guerard, former Managing Director and Chief Executive Officer of Ecobank Rwanda, has now been appointed to serve as the new managing director for the branch of the bank in Liberia.

Guerard took over from Kola Adeleke, who has taken another assignment in Zambia, Lusaka as the new manager in that East African country.

Ecobank capital is responsible for overseeing all Ecobank Group treasury, investment banking and asset, managing businesses across the continent.

CBL to Revise Liberia’s Payment System

The Executive Governor of the Central Bank of Liberia (CBL), Dr. J. Mills Jones is expected to implement series of reforms to revise the payment system in the country.

  The reforms, according to its July and September, 2014 Financial and Economic Bulletin report the process will be implemented in line with international standards.

  The report further said that the bank will implement the reform in partnership with the West African Monetary Institute.

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