can you please edit this and give a feel back I want to publish it in the news paper, Our homeland is still suffering enormous economic and social problems, often caused by the current system. One of the most pressing problems for Liberia is the dual currency. Liberia get her local currency but we must buy goods and services in convertible DOLLARS, worth 24 times more if am right. Liberia need to conduct a campaign with her own currency in order to remedy this situation. Since 2006 the democratic process started, if we have collected more than 10,000 signatures and was presented to the National legislature of Liberia . However, we would by than have more response given to us, in violation of our constitutional right and demand. We can still demonstrate this, through a national survey, the vast majority of Liberians will support the campaign “in support of our Currency” and want to pay with Liberian dollars for goods and services consumed. The government must acknowledge that the dual currency is a problem, and need to offers concrete solution. The present situation have already shown that Liberia want reform In any economic system, currency fulfills several functions such as: • A standard measure for assessing the social and material production of goods and services (accounting unit) • A symbol socially accepted by consensus or state tax, for the release of any debt from individuals, businesses and the state (for payments) and • a store value that allows its holder to preserve purchasing power over time and when it is exercised. These three functions are universally recognized by the currency economic doctrine. The unification will allow all Liberia to economic security and their enterprises more productive. To avoid traumatic effects and inconsistencies, any changes related to the currency should take a step-by-step approach, which takes into account other factors. Certainly we must take into account various aspects of the national economy and the effects of the impact the monetary union might have. My aims through this document to show publicly to all people and government the same ideas on how to move towards a successful monetary union. The monetary union is a first step, of paramount importance to begin to improve the economic situation. This must be complemented by other economic policy measures to achieve a reform that will alleviate the material deprivation of our people and restore hope for a brighter future. In this article, I then set out the broad outlines of what should be done with this process of economic reform that must be put to the unification of the currency in which a single currency with which all Liberians can calculate the values economic and be rewarded for their efforts. Below, I hope we considers those concrete measures could be taken to make the Liberian dollars the only currency of a successful performance and improve the national economic system in those areas identified in the previous paragraph. Repeal if any Resolution of the Central Bank of Liberia, which formalized the dual currency in the country. After a transition period of 6 months, the Liberian dollar be used as the only national currency. Adopt a flexible exchange rate band in relation to a basket of currencies which should include the Euro, the U.S. dollar and other international reserve. The exchange rate of the Liberia currency will be set within a fluctuation banks set by the Central Bank of Liberia. Eliminating all taxes on foreign currency to local currency. Be spared the usual fees for financial intermediation. Establishing a register of capital and allow commercial banks to operate freely with foreign currencies to ensure full convertibility. Allowing the use of electronic payment and credit card use in domestic commerce transactions. Decriminalize the possession and use of foreign currency. Negotiate with the European Union, which has experience in monetary transitions, obtaining technical assistance and institutional framework for its implementation. Negotiate with the European Economic Area, and the Asian Economic Area agreements on mutual protection of investments to estimate the arrival of foreign direct investment in Liberia, under conditions of legal certainty, clarity of rules and guarantees of operation and convertibility. Strengthen, improve and extend the system of export processing zones. To complement the above measures, it also would require the following: Ensure the free movement of persons throughout the country, from the county toward Monrovia. Facilitate the formation of private organizations (small and medium) producers to help solve the pressing problems of internal supply, especially in the area of food, clothing, footwear and others. Allowing the formation of organizations that provide (Open) lines of credit for businesses and corporate (medium) with flexible repayment terms (not less than 5 years), for infrastructure and for working capital. Decentralize and facilitate foreign trade operations with the rest of the world to ensure that the effort has not been productive strangulation at least in the early stages of reform. In this sense, it should allow companies to make these associations or directly processes of buying and selling without major international controls, except for natural customs. Liberalize operations in all markets, national and international ensure that the effort has not been strangled and that consumer prices are as competitive as possible Establish a uniform tax rate on earnings. The rate should be low enough to encourage investment, both Liberians and foreign employment and wealth creation. Establish that the right of all citizens to private property, with all the rights that entails, not only for housing but for the land and all other means of production of goods and services. Establish the right of any citizen or entity to establish and operate any business or company deems appropriate. Establish a uniform tax rate on earnings of micro small and medium enterprises. Eventually, it could also set a slightly lower rate for these, at least for a reasonable period, in comparison with other companies. Repeal any other provision of law that is inconsistent measures that seek to pursue.
Posted on: Thu, 04 Sep 2014 08:01:34 +0000
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