Monrovia — The Central Bank of Liberia (CBL) on Thursday hosted a one-day intensive training on monetary policy communication for journalists, aimed at enhancing the accuracy and quality of economic reporting in the country.
Held at the Bank’s headquarters in Monrovia, the training brought together journalists from both print and electronic media, members of the Press Union of Liberia, and senior CBL officials. The initiative seeks to strengthen the media’s role in promoting informed public discourse on key economic issues.
Delivering the keynote address, Dr. Musa Dukuly, Deputy Governor for Economic Policy, emphasized the critical role of journalists in Liberia’s economic development.
“You are not just reporters,” Dr. Dukuly told the participants. “You are educators, watchdogs, and bridges between complex policy decisions and the everyday lives of citizens.”
He stressed the importance of clear and accurate reporting on key economic concepts–such as inflation control, interest rates, exchange rate movements, and money supply–highlighting the media’s power to influence public understanding, investor confidence, and policy perception.
Why the Training Matters
Dr. Dukuly acknowledged that monetary policy is often technical, but said journalists are frequently the first–and sometimes only–source through which the public accesses economic information. This, he warned, makes accuracy all the more critical.
“Inaccurate or poorly framed economic narratives can erode public trust, trigger panic, or even misguide policymakers,” he cautioned.
Lessons from the Continent
To demonstrate the potential dangers of economic misreporting, Dr. Dukuly cited examples from across Africa: Ghana (2022): Misreporting on foreign reserves led to unnecessary speculation and currency volatility. Nigeria (2021): Misinterpreted inflation data caused unwarranted fears of hyperinflation, Kenya (2023): A false report on debt repayment briefly undermined investor confidence, Liberia (2024): A claim that “there was no money in the bank” forced the CBL to issue a public clarification to avert panic.
“These cases highlight the delicate balance between informing the public and ensuring the accuracy of economic narratives,” he said.
Highlighting Responsible Journalism
Dr. Dukuly also pointed to positive examples of responsible journalism that have strengthened public trust in monetary authorities: In South Africa, journalists have held institutions accountable while simplifying complex policies.
In Rwanda, the media has played a key role in educating the public on inflation and financial inclusion.
In Liberia, several local journalists have been recognized for insightful coverage of currency reform and inflation.
“These examples show that when journalists are well-informed, they can promote transparency, accountability, and citizen engagement,” he noted.
CBL’s Commitment to Partnership and Transparency
The Deputy Governor reaffirmed the Central Bank’s commitment to transparency and open dialogue with the media. He emphasized that the training is part of a broader strategy to foster lasting partnerships between the Bank and the press.
“We want to build bridges, not walls, between policymakers and the media,” he said. “Our technical teams are available to support you in understanding and reporting on economic issues with depth and confidence.”
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Call to Action
In closing, Dr. Dukuly urged journalists to take full advantage of the training by engaging with economic concepts and asking critical questions.
“Liberia needs a financially literate citizenry,” he said. “That can only happen when the media is equipped to report accurately, thoughtfully, and with integrity.”
He expressed hope that the training would mark the beginning of a stronger, more collaborative relationship between the CBL and Liberia’s media professionals.
As Liberia works to stabilize its economy and strengthen public confidence in financial institutions, the Central Bank’s engagement with the media underscores a crucial truth: transparency, trust, and economic resilience all begin with accurate and responsible journalism.
