Guinea’s Civil Forum has voiced its opposition to the authorities’ decision to print new banknotes in response to the liquidity crisis affecting the country.
At a press conference held Tuesday in Conakry, the civil society organisation argued that printing new currency does not constitute a lasting solution to the persistent cash shortage in the national economy.
According to Ibrahima Balaya Diallo, the initiative lacks economic vision and rigor: those hoarding their resources will continue to circumvent such measures by converting their assets into foreign currency or keeping them outside the banking system.
The civil forum also points to structural causes underlying the crisis, including dysfunction in economic and financial management and the state’s difficulties in repaying commercial banks — weaknesses that are destabilising the financial system and reducing the availability of liquidity.
For Diallo, these blockages are compounding tensions throughout the economic circuit. He stressed the need to restore confidence among economic actors, which he described as an essential precondition for easing transactions and improving the circulation of money.
The organization is therefore calling on Guinean authorities to prioritize structural and lasting reforms, rather than piecemeal measures it considers insufficient to resolve the crisis.
RNK/te/Sf/lb/as/APA