The impact of the transnational corporations in the banking and other financial institutions on the economy of Liberia
Author(s)/Corporate Author (s)United Nations. Economic and Social Council;
United Nations. Economic Commission for Africa;
UN. ECA/UNCTC Joint Unit on Transnational Corporation;
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Though Liberia comes under the 'middle-income' group of Developing countries, it appears to be still underdeveloped in the financial structure. Though the country has a Central Bank from 1974, it has not been able to make itself felt sufficiently or act as an effective leader in the financial field. Though it has helped promotion of national financial institutions, the Transnational Banks Continue to dominate the financial scene - the national institutions, whether they are commercial banks or non-banking institutions, have not been able to make much headway on accounts of various constraints. Even the Development Bank, after 18 years of functioning, still appears to be. a minor institution and raising practically no local resources, In the field of Insurance, national institutions are yet to make a start - effective control on transnational is yet to be evolved. On the whole, the transnational banks and financial institutions, whether directly working in Liberia or not, appear to be having dominant role in the financial affairs of the country.