During the 7th Annual Conference of the National Council on U.S.-Libya Relations in Washington, the Head of the High Council of State, Khaled Al-Mishri, emphasized the economic and security issues facing Libya. Al-Mishri stated that the state of the economy is not marked by “simple corruption but by large-scale theft, due to embezzlement committed by […]
Economics professor at the Libyan Academy, Omar Zarmouh, commented exclusively to our source on the Central Bank of Libya’s decision regarding the exchange rate adjustment, saying: What is surprising in the decisions issued by the Central Bank of Libya on Sunday, April 6, is that they carry within them a series of contradictions and disturbances […]
Reuters reported today, Monday, quoting oil officials, that Libya will offer 22 oil exploration and development blocks in its first bidding round in more than 17 years. According to Reuters, the deals will include production sharing agreements, and this new bidding round, announced on March 3, comes as the second-largest oil producer in Africa and […]
Written by economic expert Mohamed Abu Snina: What we have repeatedly warned about has now occurred. Although much of what was mentioned in the statement issued by the Central Bank of Libya today is known to many, it serves as a declaration and warning that what lies ahead will be worse for the Libyan economy […]
Our source obtained a reminder from the Central Bank of Libya regarding the deadline for withdrawing the 50-dinar banknotes by the end of April. The Central Bank stated: The final date to accept both the first and second issues of the 50-dinar banknotes in commercial banks is April 30, 2025. As the Central Bank of […]
Libyan businessman Husni Bey told our source in an exclusive statement:In my view, the rate approved, with an added 15% fee, actually represents a devaluation of the exchange rate, not an increase as the majority perceives it. All I hope for is that this 15% fee is used to extinguish public debt and reduce the […]
Banking expert Misbah Al-Akkari stated on his official Facebook page:When a three-month window is granted to issue a unified budget that serves the entire homeland, with the Central Bank involved in its preparation and allocating the necessary foreign currency coverage based on available capabilities, and this period ends on 31-3-2025… He continued: And since the […]
Sada republishes an important message from a group of economic and financial experts regarding Libya’s economic situation and proposed solutions. They said: Following the report published yesterday by the Central Bank of Libya, which included alarming figures and assigned responsibilities resulting from the state of governmental division, and the ensuing rampant and inflated dual spending, […]
Legal advisor Hisham Al-Harati spoke exclusively to our source stating: “What is happening in Libya is a blatant example of a betrayal of trust, as corrupt parties entrusted with the responsibility of running the state are seizing the Libyan people’s funds through illegal means and administrative violations. This constitutes a criminal offense that infringes on […]
The Arab Independent newspaper revealed that recently, Libyan security authorities have intensified their campaigns to combat smuggling across the Ras Jdir border and reinforced monitoring measures on the entry of Libyan goods and fuel, a step that has strained relations with Tunisia. According to the newspaper, this campaign is part of the Libyan government’s efforts […]
Financial Analyst Khaled Al-Zantouti wrote an article saying:Today, our Central Bank came out with a decision to devalue the exchange rate by 13.3% (and I don’t know why the decimal is over 13 — is it the result of accurate calculations based on a fair pricing model for the dinar (I hope so), or is […]
Banking expert Naaman Al-Bouri spoke exclusively to our source regarding the Central Bank’s latest statement, saying:“The statement issued today by the Central Bank of Libya shows that the bank is facing a difficult and complex situation.” He added:“Excessive public spending by two governments, along with resorting to deficit financing during Q4 of 2024 and Q1 […]
Banking expert Imran Al-Shaibi wrote an article on his official page commenting on the statement issued by the Governor of the Central Bank of Libya. Main Economic Challenges 1. Dual SpendingOne of the most prominent challenges facing the Libyan economy amid political division is dual spending. The total dual spending by the two governments reached […]
The economic expert Ibrahim Wali wrote the following article: In this post, I was going to speak about the role of domestic public debt, amounting to (200) billion Libyan dinars, and its role in Libya’s economic life as a tool of fiscal policy and as a means to cover the deficit in the general budget, […]
Our source has exclusively obtained the new regulations for foreign currency sales issued by the Department of Currency and Banking Supervision at the Central Bank of Libya. The new rules stipulate the following caps: For companies, small traders, and artisans, the maximum prepaid card amount for industrial, service, and commercial purposes is set at $50,000 […]
