Core Viewpoint - The Central Bank of Liberia is set to launch a national electronic payment system by December next year, aimed at enhancing interoperability among financial institutions and reducing cash dependency [1] Group 1: Electronic Payment System - The new system is described as a "transformational initiative" that will allow citizens to use a single card across all ATMs and POS machines nationwide, addressing current interbank transaction barriers [1] - The system is expected to improve transaction transparency and reduce the risk of data tampering, facilitating a gradual shift towards a "cash-light" economy [1] Group 2: Economic Implications - Despite maintaining the monetary policy rate at 17.25%, the Central Bank has issued warnings regarding external risks [1] - The Finance Minister emphasized that the system will integrate with the Pan-African Payment and Settlement System (PAPSS), promoting local currency settlements in regional trade [1] Group 3: Industry Support - The Banking Association has expressed full support for the initiative, highlighting that digitalization will aid in combating corruption and enhancing fund tracking [1] - This initiative marks a significant step towards the modernization of Liberia's financial system [1]