The United States Embassy near Monrovia is alerting travellers coming to Liberia to bring along physical cash because “it may be difficult to obtain cash from banks in Liberia”. “Bring cash sufficient for the duration of your trip, the US Embassy emphasizes.
The US Embassy’s alert stresses that “Liberia’s banking sector has experienced a growing shortage of cash – both U.S. and Liberian dollars – over the last several months.”
As a consequence, the Embassy says “it is difficult to obtain adequate cash supplies from ATMs and banks.”
“There are no ATM facilities for public use at the U.S. Embassy. Amounts of U.S. dollars over $10,000 must be reported upon entry to Liberia. Travelers may exit with no more than $7,500 U.S. dollars,” the US Embassy said in the alert.
The Embassy listed the actions travellers should take to avoid hiccups “make sure your health insurance plan provides coverage overseas; most care providers overseas only accept cash payments; secure your possessions when you are in public areas; avoid displaying or carrying unnecessary valuables and large sums of money; pay expenses such as hotels and flights by credit or debit card when possible; check with vendors to ensure credit or debit cards are accepted; there have been reports of financial information being compromised even at hotels where credit cards are routinely accepted and the U.S. Embassy cannot assist with bill payment.”
Commercial banks have run out of local currency due to the shortage of banknotes across the country. Public sector employees cannot get access to the Liberian dollar component of their salary due to the crisis.