By Hon Solomon Ben Swaray Jr.
Monrovia, Liberia
Across every major market in Liberia today — from Red Light to Duala, from Buchanan to Ganta, traders and customers are struggling under a system that has made the U.S. dollar more powerful than the very currency that defines our national identity.
Prices of food, transport, and daily goods are mostly quoted in U.S. dollars, leaving ordinary Liberians, especially those who earn in Liberian dollars at a serious disadvantage.
This dependence on the U.S. dollar has quietly become one of the biggest causes of economic instability, inflation, and inequality in the country.
The Root of the Problem
Liberia is one of the few countries in Africa with two currencies. the Liberian dollar (LD) and the U.S. dollar (USD) circulate side by side.
While this dual system may have started as a measure of economic stability, it has gradually weakened national control over prices and purchasing power.
Today, most traders and businesses prefer the U.S. dollar, even for goods produced locally.
This means:
Market women struggle to exchange LD before buying supplies.
Civil servants paid in Liberian dollars can’t afford USD-priced goods.
The exchange rate keeps rising because demand for USD never stops.
In short — Liberia is using another country’s money to survive in its own market.
The Real Impact on the People
This dollar dependency creates three serious problems:
1. Unstable Prices: As the exchange rate fluctuates, prices change almost daily.
2. Weakened Confidence: Many Liberians no longer trust their own money.
3. Economic Dependence: The government loses control over how money flows in the local economy.
Ordinary citizens, who earn in Liberian dollars, are the hardest hit, because the cost of goods rises faster than their income.
Why Liberia Must Strengthen the Liberian Dollar
If Liberia is serious about building a stable economy, it must start with its own currency.
The Central Bank and the Government of Liberia can take these steps:
1. Gradually Phase Out U.S. Dollar Dominance — Make all local transactions, including markets, taxes, and domestic payments, use Liberian dollars only.
2. Increase Confidence in the LD Ensure the currency is strong, available, and backed by stable monetary policies.
3. Set Fair Exchange Regulations Limit how USD is used in everyday markets to reduce dependency.
4. Support Traders and Businesses — Educate market sellers, banks, and consumers about the benefits of using LD.
5. Pay All Government Workers in LD and Promote LD Pricing Nationwide.
By restoring full trust in our national currency, Liberia can control inflation, create fair prices, and restore dignity to local traders and workers.
The Bigger Picture
This is not just about money — it’s about national pride, economic independence, and the future of our people.
No country grows strong by depending on another nation’s currency to buy its daily bread.
Liberia must believe in its own money, strengthen it, and use it proudly.
Because the moment we start trusting the Liberian dollar, our economy will begin to heal from within.
