The EU Reporter website reported on Saturday that Italy has expressed significant interest in signing new contracts with Libya, aligning their interests not only in the oil and gas sectors but also in combating illegal migration. According to the site, in 2023, the Italian energy company Eni and Libya’s National Oil Corporation signed an $8 […]
Bloomberg reported on Friday that Libya’s oil production has surged to its highest daily level in 11 years, just months after a political crisis significantly reduced the country’s output. According to the National Oil Corporation (NOC), crude oil and condensate production reached 1.422 million barrels, exceeding the corporation’s target by about 22,000 barrels. This marks […]
Reuters reported on Friday, citing the Central Bank of Libya, that it has contracted with the British company De La Rue to print 30 billion dinars ($6.25 billion) in an effort to address the liquidity shortage in the country’s commercial banks. The Central Bank stated last Sunday that the liquidity crisis would be resolved “gradually” […]
The Central Bank of Libya revealed in an exclusive statement to our source that a new shipment of currency has just arrived at the Central Bank via Mitiga International Airport. The shipment was immediately transferred to the Central Bank’s vaults in preparation for distribution to commercial bank branches in the coming days based on demand. […]
Our source has exclusively obtained a correspondence from the Deputy of the Libyan Audit Bureau, Atiat-Allah Hussein Abdul Karim, addressed to the Chairman of the General Authority for Communications and Informatics. In the letter, the Deputy demanded the immediate cessation of the authority’s practice of covering a significant portion of its expenses through the LPTIC […]
Dr. Yassin Abu Sriwil, an international trade expert, delves into Libya’s escalating economic challenges, revealing the impact of unstable financial policies on citizens and their families. In his article, he likens public salaries—an essential right—to credit facilities, questioning the current mechanisms and their repercussions. The Core Issue: Numbers Speak Role of Key Institutions Consequences of […]
Published by: Al-Monitor on Wednesday Libya’s financial crisis has forced many citizens to rely on payment cards amid the collapse of the financial system, following over a decade of instability and war. According to Al-Monitor, cash withdrawals have become an arduous process, with long queues of hundreds of people waiting outside heavily guarded banks. Often, […]
Bloomberg reported today, Tuesday, that Libya accounted for most of the increase in oil production for the Organization of Petroleum Exporting Countries (OPEC) for the second consecutive month. Bloomberg confirmed that OPEC produced more than 27 million barrels of crude oil per day in November, an increase of 120,000 barrels compared to October, following Libya’s […]
Hisham Al-Harati, Legal Advisor for the “Zaykom Zina” Organization for the Rights of Persons with Disabilities, wrote: “On this International Day of Persons with Disabilities, while the world celebrates, in Libya, the day often becomes an occasion for fleeting sentimentality, filled with exaggerated expressions of empathy from officials and decision-makers. Sadly, these emotions are often […]
Economic expert Mohamed Al-Safi published an article on his page, discussing the use of information as a monetary tool in Libya. When monetary tools are mentioned, discussions often focus on traditional instruments such as interest rates or exchange rates. However, positive and disciplined communication with the market is an equally significant monetary tool. The new […]
The economic expert Ibrahim Wali authored an article discussing the Central Bank of Libya, emphasizing that the institution is far more than just a governor, deputy governor, and staff. It represents a collective of minds with scientific knowledge and extensive expertise in monetary, economic, commercial, and legal matters. Operating as a structured institution, the bank […]
The “African Energy” website has disclosed Libya’s demand to the U.S. Departments of State and Treasury in Washington for more than $60 billion worth of Libyan assets, which Tripoli claims were secretly invested in U.S. Treasury bonds by the regime of Muammar Gaddafi. According to the site, a delegation led by LarMo’s General Director for […]
The Central Bank of Libya exclusively revealed to our source that a flight has just departed from Tripoli to Benghazi carrying a cash shipment valued at 50 million dinars. Of this amount, 20 million has been allocated to support the treasuries of Sahara Bank branches in the city, and 30 million is designated for North […]
Our source has obtained a circular issued by the Central Bank of Libya to commercial banks regarding regulations for setting purchase limits based on individual salaries. The goal is to facilitate salary disbursement before funds are deposited into banks and to promote electronic payments. The regulations stipulate that banks must establish purchase limits through electronic […]
The French intelligence website Africa Intelligence reported on Monday that the Turkish oil company “BGN” has established itself as a major player in Libya’s oil sector. The Dubai-based company, led by “Roya Baycan,” has succeeded in acquiring the majority of crude oil in Libya. The website further stated that the Turkish company has become one […]
