Former Finance Minister Wilson Tarpeh has called for the reform of Liberia’s monetary system.

Professor Tarpeh said reform of the system is necessary to support both economic growth and sustainable development.

In a statement issued in Monrovia, Prof. Tarpeh noted that the current monetary regime has the propensity to postpone adjustment.

He said the current system also undermines the capacity of the Central Bank of Liberia to effectively conduct sound monetary policy.

Prof. Tarpeh, also a former Executive Director of the African Development Bank, said the CBL is not in the position to exercise full control because of inherent impediments.

Professor Tarpeh however, commended the government for its strategy to address Liberia’s long-standing debt crisis.

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