Newly Appointed Governor Pledges to restore CBL’s Independence

Hon. Tarlue Taking the Oath of Fidelity and Secrecy
Hon. Tarlue Taking the Oath of Fidelity and Secrecy
Photo Credit: CBL

MONROVIA – December 27, 2019:The newly appointed Executive Governor of the Central Bank of Liberia, Hon. J. Aloysius Tarlue, Jr., speaking at his induction ceremony held at the CBL Board Room on Friday, expressed gratitude to President Weah for his preferment and  assured His Excellency and the Liberian People  that he will work diligently to ensure that the Central Bank of Liberia will be governed  by professionalism, ensuring accountability, transparency and independence. Moreover, the Executive Governor emphasized he will work to restore confidence by rebranding and repositioning the Central Bank of Liberia, which he believed is a pre-requisite to restoring confidence in Liberia’s banking system.

 

 Additionally, Executive Governor Tarlue lamented that CBL is always in the news, making headlines, which is not how traditional Central Banks conduct their businesses.  He pledged to change that culture, and this will  require that ‘all hands be on deck’.

 

Executive Governor Tarlue said “I come to CBL with no pre-conceived notions and biases, but with a clear conscience to work with the Management Team to reform and restructure the Bank. I don’t claim to know all but at the same token I will leverage on the institutional knowledge of our staff in my duties and solicit Technical Assistance from our international partners”.

 

 He also praised CBL for having written great policies, however the next step is to ensure the implementation and enforcement of these policies, which he promised to focus on, working with the ‘great team’ that exists at the CBL.

 

Executive Governor Tarlue said he was not oblivious of the fact that there were serious economic challenges and other issues of international magnitude beyond Liberia’s control, but that ‘we must control the fundamental issues that affect us’ and ensure that the fundamentals are put in place.

 

Executive Governor Tarlue also pledged to work cooperatively with the fiscal authorities because fiscal and monetary policymakers need to work together to ensure we have a vibrant and growing economy.  He is the fifth Executive Governor to have been appointed since the Central Bank of Liberia was established 20 years.