Our source has exclusively obtained a correspondence from the Governor of the Central Bank of Libya to the President of the Audit Bureau. In this letter, the Governor indicated that the Central Bank of Libya executes foreign exchange transactions and all transfers in US dollars through the Federal Reserve Bank in New York, which is […]
Esam Hamza, the Director of the General Manager’s Office at Al-Yaqeen Bank, announced that the bank is operating smoothly and at an accelerated pace in the final quarter of 2024. Mr. Hamza emphasized that all products and services were fully reinstated in October, in line with the directives and circulars from the Central Bank of […]
The financial and economic expert, Sameh Al-Kanouni, spoke exclusively to our source about correspondence among experts regarding Libya’s public financial challenges. He stated, “This is entirely accurate and 100% true.” He added: “I am not pessimistic, but when I see several global oil companies changing their names to energy companies, it raises concerns about the […]
A group of economic and financial experts, including ten members from the Economic Salon organization out of seventeen, consisting of: Dr. Abubakr Abu Al-Aid Abulqasim, Mr. Hamuda Al-Aswad, Mr. Mrajea Gaith, Dr. Abdelghani Al-Fatissi, Dr. Fathi Al-Majbari, Eng. Mohamed Khaled Al-Ghweil, Dr. Mohamed Ben Yousef, Dr. Suleiman Al-Shahoumi, Mr. Mohamed Al-Shukri, and Dr. Ezzeddine Ashour, […]
Our source has obtained a notice referred by the Deputy Director of the Audit Bureau, Atiyat-Allah Abdulkareem, to the Bureau’s Legal Affairs Office. The notice was received by a process server from an unidentified citizen, who claims that Khaled Shakshak is no longer the Head of the Audit Bureau. The citizen bases this claim on […]
The Canadian newspaper Toronto Star reported on Sunday that recent clashes in the city of Zawiya have caused fires at the oil refinery as armed groups vied for control. These disturbances highlight the ongoing instability in Libya since the fall of Gaddafi in 2011, leaving residents trapped and roads blocked, with a state of force […]
Economic expert Mohamed Sanussi, in an exclusive statement to our source, commented on the letter presented by several experts addressing Libya’s public financial challenges. He stated, “First, we must thank everyone who tries to contribute with their knowledge and expertise to solving Libya’s problems. However, generally speaking, Libya’s problems cannot be solved by presenting proposals […]
Former member of the Central Bank of Libya’s Exchange Rate Committee, Misbah Al-Akari, stated: “The liquidity problem will be fully resolved by 2025 provided that all stakeholders (citizens, the private sector, and government entities) commit to using alternative payment tools, which have already become widely available and are expected to grow even further in 2025. […]
The international professional services network Deloitte, headquartered in London, released a report titled “The Imperatives of a National Vision for Libya” on Saturday. The report highlighted that Libya’s economy, heavily reliant on its vast oil reserves, experiences significant volatility driven mainly by global oil price fluctuations and recurring political instability. According to Deloitte, the discovery […]
Turkish Airlines announced it will resume flights between Benghazi and Istanbul starting next year. According to Anadolu Agency, the airline had suspended its flights to Benghazi a decade ago due to internal unrest but will resume operations on January 14, 2025. The Turkish agency confirmed that Turkish Airlines will operate three flights per week on […]
The economic expert, Misbah Al-Akari, wrote an article in which he stated: “An amount of cash exceeding 70 billion Libyan dinars is circulating in the local market outside the banking system. This massive amount has become subject to trading in a very peculiar phenomenon referred to as “burning.” The rise in government spending, which surpassed […]
The Sentry organization stated: On September 10, 2023, two dams near the city of Derna in eastern Libya collapsed due to a severe rainstorm, resulting in a flood that claimed the lives of at least 4,352 people and displaced approximately 45,000 others, while 8,000 individuals remain missing and are presumed dead. Since the disaster, journalists […]
The oil-focused website “Oil Price” reported today, Wednesday, on OPEC’s monthly oil market report, revealing that crude oil production from all member states increased by 104,000 barrels per day in November compared to October. The report highlighted that OPEC’s total crude oil production averaged 26.66 million barrels per day last month, driven by increased production […]
Our source exclusively obtained a correspondence from the Deputy Head of the Audit Bureau, Atiyyat-Allah Hussein Abdel Karim, addressed to the Minister of Planning in charge of the National Unit, directing the preparation of detailed schedules outlining the financial allocation distributions for projects and development programs for the years 2024-2025. The schedules should include priorities, […]
Financial expert Khaled Al-Zantouti penned an article criticizing the recent statement by the International Monetary Fund (IMF) regarding Libya, describing it as “economic hypocrisy” and filled with “hollow recommendations.” Al-Zantouti highlighted the IMF’s acknowledgment of Libya’s “positive turning point after a decade of board stagnation,” questioning the organization’s silence and inaction during those ten years. […]
