A deputy governor at the Central Bank of Liberia (CBL) has told journalists that a stable economy depends on informed journalism, urging that the more accurate and accessible the report, the stronger Liberia will become. Speaking at the specialized training for economic journalists in Monrovia on 11 August, Dr. Musa Dukuly, Deputy Governor for Economic Policy, said journalists should see themselves as educators and not just as reporters.
Dukuly indicated that there are essential links between complex economic policies and the public for which he wants journalists to prioritize accuracy, context and timing in their news coverage. As the Deputy Governor delivers his statement, this is what he had to say: “A strong democracy and a stable economy depend on informed journalism.”
He admonished journalists to be accurate with their economic reporting because, according to him, inaccurate economic reporting has the potential to create alarm, distort financial markets, and undermine national stability. Deputy Governor Dukuly outlined the role of the media in shaping public understanding of monetary policy, which directly impacts food prices, employment, and overall economic confidence.
Dr. Dukuly referenced Ghana’s 2022 foreign reserve misreporting, which triggered speculation and a sharp depreciation of the cedi; Nigeria’s 2021 inflation data misinterpretation led to fears of hyperinflation; and Kenya’s debt misreporting disrupted investor confidence.
At the training, which brought together 40 journalists from various media institutions, Dukuly also underscored a local case in December 2024, when a false report claimed that the CBL had run out of money, saying that the publication could have sparked a dangerous run on the banks and potentially collapse the financial sector.
