The Italian “Friedman Institute” recently released an analytical report on Libyan oil and gas supplies, emphasizing Italy’s strategic role in Mediterranean energy dynamics. The institute highlighted Italy’s efforts to position itself as a key energy hub in the Mediterranean, supported by its continued reliance on Libyan oil and gas. According to a recent analytical memo […]
Dr. Abdul Salam Nasia, an economist, wrote an article titled: Salaries: Between the Scourge of Corruption and the Demands of Need. A salary is the material representation of the effort exerted by a worker or employee, typically determined according to the principle of “payment for work.” Most countries establish minimum wage thresholds, whether for a […]
Libyan businessman Rasheed Sawen stated, “Dear citizen, one liter of gasoline costs you 60 dirhams.” He explained that those who believe they are buying gasoline for 15 dirhams per liter at the pump are mistaken. Here’s a simple example: If you take a trip from Gargaresh to Bin Ashour, approximately 10 kilometers, it would typically […]
The Central Bank of Libya revealed to our source that it has dispatched a cash shipment from Tripoli to Benghazi to support the treasury of the Central Bank of Libya in Benghazi. This move is part of the Central Bank’s strategy to address the cash shortage crisis, under the directives of the Central Bank Governor […]
Our sources within the banking sector have revealed that the Board of Directors of the Central Bank of Libya is scheduled to hold a meeting next Sunday. According to the sources, the discussion will include the topics of the exchange rate and taxes.
The Central Bank of Libya has confirmed, in a statement to our source, that the Bank’s Operations Management has started processing salaries after receiving them today from the Budget Department of the Ministry of Finance. This comes after the approval of the Governor of the Central Bank to cover the deficit using the Bank’s resources, […]
The International Monetary Fund (IMF) welcomed the agreement to resolve the leadership dispute at the Central Bank of Libya (CBL) and expressed its support for the bank’s efforts to facilitate access to foreign currency and alleviate local currency shortages. The IMF emphasized the importance of Libyan authorities agreeing on spending priorities through a unified budget […]
A statement from the Central Bank of Libya revealed the total uses and obligations of foreign currency, which amounted to $23.193 billion. The statement outlined various uses, including salaries for Libyan workers abroad, which totaled $270 million, and medical treatment abroad at $99 million. The National Oil Corporation received $1.623 billion, while scholarships for students […]
Our source has exclusively obtained a letter from the head of the Audit Bureau, Khaled Shakshak, addressed to the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, and affiliated government entities. Shakshak revealed instances where unclaimed basic salaries were redirected to other expenditures in violation of the Financial System Law and the […]
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 […]
