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‘Work for Single Liberian Currency Regime Begins 2019’

first_imgNathaniel Patray, Executive Governor, Central Bank of Liberia-CBL Gov. PatrayCentral Bank of Liberia (CBL) Executive Governor, Nathaniel Patray, said that the Bank under his leadership, together with the Ministry of Finance and Development Planning (MFDP), will in 2019 commence work with the Legislature and other stakeholders on a revised framework for de-dollarization to revert to a single Liberian currency regime.Patray told the Senators during his recent confirmation hearing that several policy measures would be carried out in 2019, under the Bank’s medium-to-long term policy measures.Under those policy measures, Mr. Patray said the CBL will work with the Legislature on Export Proceeds Repatriation Law to ensure regular and constant flow of foreign exchange in the economy, and by extension increase the supply of foreign exchange in the economy.The CBL and MFDP, Governor Patray promised, will work with the Legislature to introduce new banknotes to replace the existing one with a uniform family of banknotes; that the Government of Liberia (GoL) will be encouraged to invest in critical infrastructures such as roads, electricity, rule of law, and enforcement of property rights that promotes diversification.He said the GoL through the ministries of Finance and Development Planning, Agriculture, Commerce and Industry, and the CBL should develop a value chain around agricultural output to stimulate domestic production, income generation, and employment.Speaking further to members of the Senate Committee on Banking and Finance, Governor Patray underscored the need for GoL through MFDP, CBL, the National Investment Commission and the Ministry of Commerce to initiate a strategy to invest in the actualization of the Special Economic Zones to encourage domestic manufacturing in the economy.As for price and broad exchange rate stability, Governor Patray said this “will remain the CBL’s major goal, and apart from the goal mentioned, the CBL will work with other GoL’s stakeholders to recognize a number of other economic goals, including economic efficiency to achieve the maximum fulfillment of wants using the available productive resources; economic freedom to guarantee that businesses, workers and consumers have a high degree of freedom in their economic activities.”Other economic goals the CBL intends to take, according to Governor Patray, includes bringing about equitable distribution of income to ensure that no group of Liberians faces stark poverty, while others enjoy extreme luxury.He named some of the goals as providing economic security for those who are ill, disabled, handicapped, laid off, aged, or unable to earn minimal level of income; and to carry on a balance of trade to seek a reasonable overall balance with the rest of the world in international trade and financial transactions.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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How Sharks’ Tomas Hertl exorcised the ghost of John Tavares

first_imgSAN JOSE — The ghost of John Tavares isn’t haunting the San Jose area anymore. Tomas Hertl is putting that problem to rest.As the Sharks head down the stretch run, the team is piling up points with the type of stacked center depth that general manager Doug Wilson envisioned last summer. But instead of creating mismatches with a center alignment that would have featured Tavares, Logan Couture and Joe Thornton, the Sharks are thriving under Plan B, or actually, Plan C.Hertl is suddenly emerging …last_img read more

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Play Your Part ambassadors off to US

first_img2014 Mandela Washington Fellows during the Summit with President Obama. (Image: Young African Leaders Initiative)Two Play Your Part ambassadors have been chosen to participate in President Barack Obama’s Mandela Washington Fellowship Programme for Young African Leaders.Bongekile Radebe and Sandiso Sibisi are both social entrepreneurs devoted to improving the lives of others.Radebe is a 23-year-old woman from Mohlakeng, in Randfontein. She’s a passionate, value-driven and dynamic young leader who works in youth development and social entrepreneurship.Sibisi has been leading and participating in community development for six years. Her most relevant contribution has been towards the development of previously disadvantaged young women.THE FELLOWSHIPThe Mandela Washington Fellowship for Young African Leaders began in 2014 and is the flagship programme of the American president’s Young African Leaders Initiative (Yali), which empowers young people through academic coursework, leadership training, and networking.In 2016, the fellowship will give 1 000 outstanding young leaders from sub-Saharan Africa the opportunity to hone their skills at an American higher education institution. They will also receive support for their professional development once they return home.The fellows, who are between the ages of 25 and 35, have established records of accomplishment in promoting innovation and positive change in their organisations, institutions, communities, and countries.In 2015, fellows represented all 49 countries in sub-Saharan Africa; 50% were women. It was the first time 76% of the fellows spent a substantial period of time in the United States.HER DESTINYBongekile Radebe is passionate about women empowerment. Radebe has been recognised as a future promising leader by Destiny magazine. Her passion for female leadership led her to found Her Destiny, a social enterprise that has partnered with Toni Glass, the tea company. Her Destiny influences empowering conversations between young women in connecting generations, improving personal development and understanding financial literacy.Her Destiny helps young women to participate in the economic acceleration of South Africa, to talk about issues that affect women the most and to work together to overcome challenges.Through Her Destiny, for every Toni Glass bottle of iced tea sold, R1 is contributed to their Young Women’s Education Fund. The fund helps to ease the living experience of young women at university.Radebe is a patriotic young South African who plays her part by promoting the culture of nation building.BORN TO SUCCEEDSandiso Sibisi is helping skill women in the business sphere.Sibisi has been leading and participating in community development for six years. Her most relevant contribution has been in the development of previously disadvantaged young women.Her programme, Born to Succeed, primarily focuses on business skills training, professional development, job placement and mentoring of unemployed young women in Gauteng.She founded the organisation, as well as took charge of all fundraising activities, and designed, organised and marketed the programme. Today it is staffed by an administrator, communications officer, project manager and marketer. It attracts previously disadvantaged young women from all over the country and appeals to Johannesburg investors.Sibisi also serves on the bursary committee of the Association for the Advancement of Black Accountants of Southern Africa. The committee focuses on helping previously disadvantaged, bright students from rural communities get university funding.last_img read more