MONROVIA – In a bid to strengthen Liberia’s economic resilience and diversify its reserve assets, the Central Bank of Liberia (CBL) has embarked on a new initiative to establish a Domestic Gold Purchasing Program. This move is part of the bank’s efforts to bolster its reserve management framework and promote greater value retention in the national economy. With the approval of the Central Government, the CBL is set to join other regional central banks in purchasing domestically produced gold to enhance monetary stability and economic growth. The Analyst reports.
The Central Bank of Liberia (CBL) has announced the commencement of processes aimed at establishing a Domestic Gold Purchasing Program as part of efforts to strengthen the country’s reserve management framework.
Executive Governor Henry F. Saamoi made the disclosure during the presentation of the Monetary Policy Communiqué for the fourth quarter of 2025. Governor Saamoi noted that the initiative has received the approval of the Central Government and is aligned with similar programs already operational in several countries across the region. Such programs enable central banks to purchase domestically produced gold to bolster their reserve assets, promote currency stability, and enhance economic resilience.
Governor Saamoi further revealed that a 16-member inter-governmental delegation recently completed a study tour in Ghana and has returned with key recommendations to guide Liberia’s approach. In light of this, the CBL has constituted a Technical Committee to design the operational framework for the program.
He added that the Bank, in collaboration with the Central Government, will soon engage stakeholders—particularly actors in the private sector—to discuss and refine the proposed structure of the program.
Governor Saamoi’s remarks followed a concern raised by the President of the Gold Dealers Association regarding the need for Liberia to retain a portion of its domestically produced gold within the country.
“The establishment of a Domestic Gold Purchasing Program marks a significant step toward diversifying our reserve assets, strengthening monetary stability, and promoting greater value retention in the national economy,” Governor Saamoi stated.