The Liberia Business Association (LIBA) has rejected the proposition for the eradication of dual currency in Liberia, arguing that the country does not have the productive capacity to institute a single currency regime.LIBA said the international financial system would not have confidence in the country’s single currency owing to the country’s low economic output, coming from conflict and being characterized by mismanagement of its economy over the decades.The Secretary General of LIBA, Ms. Leelai M. Kpukuyou, gave her expert opinion to lawmakers yesterday in Ganta, Nimba County, during a five-day retreat on the Proposed Amendments to the 1986 Constitution of Liberia.Ms. Kpukuyou said though timing is important, LIBA believes that the House of Representatives should delay moving toward a single currency in the immediate future until productive capacities are greatly improved.“Until we add value to our own currency through Liberian businesses we cannot have a single currency,” Ms. Kpukuyou said. “We need to take our economy from the hands of foreigners, formalize the informal business sector, then we are ready for a single currency.”She pointed out that despite the high rate of exchange – L$88 to US$1 – Liberia’s economic recovery is in fact still being supported by the use of the dual currency system.She said recent statistics from the Central Bank of Liberia (CBL) indicate that more than 70% of broad money (M1 and M2) is denominated in US dollars.“Accordingly, the use of the dual currency regime has been a blessing for Liberia’s economic recovery,” Ms. Kpukuyou said.“While Liberia has officially sanctioned the use of the United States dollar as legal tender, it is not the only country in the world with high dollarization. Other countries, such as Ecuador, El Salvador, Panama and Timor Leste have higher proportions of foreign currency deposits to broad money.”The strength of any country’s currency depends on productivity for local consumptions and for export, which will allow the country to maintain a considerable balance, according to Kpukuyou .During the formal opening program, the Presiding Chairman on the House Joint Committee on Good Governance, Elections and Inauguration and Judiciary and the Chairman on the Constitutional Review Committee (CRC) gave an overview of the retreat.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)
James DeGale insists he will thrive under the pressure of knowing he cannot afford to lose his European title challenge against Piotr Wilczewski.The fight will be the Olympic gold medalist’s first since he lost his British title and unbeaten professional record against bitter rival and fellow west Londoner George Groves in May.Frank Warren, DeGale’s promoter, has described the Harlesden super-middleweight’s return as “a make or break fight” that he must win in order to keep alive his hopes of a world title shot.“I don’t fear pressure, I thrive on it, and in this fight I’m looking to go out there and prove that I’m good enough to fight for a world title,” DeGale told West London Sport.“For the majority of my fights, from the Olympic final all the way through my professional career – from the four and six-rounders to going into the lion’s den and fighting for the British title [against Paul Smith] – there’s been pressure.Warren has warned that DeGale simply must beat Wilczewski“Hopefully I’ll win this, will be European champion – champion of three quarters of the world – and then I’ll go and get that other quarter.”DeGale, 25, has been itching to get back into the ring since losing to Groves on a split-decision – a defeat he admits was tough to take.“It’s got better now but the first week or so afterwards did hurt. I had stitches and every time I looked in the mirror it reminded me of the fight,” he said.“I’m a proud boy and I don’t like losing – especially to my worst enemy. But now I’m over it and it’s great news I’ve got this shot at the European title.”Wilczewski, 32, is ranked two in the world by the WBO and has failed to win only one of his 30 fights.Warren and DeGale have both claimed that the Pole is a better fighter than Groves, who is also gunning for a world title after adding the British crown to his Commonwealth belt.“He’s definitely better than Groves. He’s been there and done it – look at his record. But the better opponent I box, the better I fight,” DeGale added.“Groves ran like a chicken and nicked the fight from me. Hopefully he’ll keep on winning and looking good and we can have that rematch.”
CLICK HERE if you are having a problem viewing the photos or video on a mobile deviceStephen Curry’s impressive resume got another boost Monday when the Warriors star was named the Western Conference’s Player of the Week by the league.Curry, who averaged 31.0 points in three Warriors wins last week, including 42 points and a season-high nine 3-pointers against Cleveland, becomes the only repeat winner of the award this season.Monday’s announcement marks the 14th time during his career that …
By: Bari Sobelson and Hannah Hyde Are you trying to build capacity so that your organization can improve the lives of service members and their families?Perhaps you work on an installation trying to establish better collaboration with a local municipality, or are focusing on the geographically dispersed members of our armed services in the guard and reserve? Perhaps you want to better understand how your installation operates so you can connect your resources to the larger community and share what you have to offer? If this is the case then you are already taking your first steps to build capacity in your community, but doing so will require you to constantly adapt to CHANGE! Once your mission is aligned with those that need you the most, your impact will be much greater! Sounds good, right? But are you wondering what this has to do with you?If you are interested in learning how to adapt and grow with all of this change you may be experiencing with your efforts, you won’t want to miss this amazing opportunity! Join the Military Families Learning Network for a FREE four-day virtual conference all about managing change! This virtual learning and networking experience is designed for professionals working with military service members and their families. Throughout the conference, keynotes, interactive sessions, and activities will explore professional and organizational change, which relates to community capacity building from multiple angles. LEARN strategies for managing change, GROW your understanding of your capacity for change, and begin to THRIVE as you connect with colleagues facing similar challenges. To learn more information about this exciting opportunity, click here.This blog was written by Social Media Specialists Bari Sobelson of the MFLN Family Development Team and Hannah Hyde of the MFLN Military Caregiving Team. Find out more about the Military Families Learning Network on our website, Facebook, and Twitter.