The Central Bank of Libya revealed an increase in the use of foreign currency during 2024 compared to previous years, reaching 27 billion dollars. Salaries for employees abroad amounted to approximately 302 million dollars, student grants for those studying abroad were 207 million dollars, treatment abroad costs were 101 million dollars, fuel subsidies were zero, […]
International trade expert Yassin Abu Sriwil told our source that economic forecasts point to relative stability in the Libyan dinar’s exchange rate against the US dollar in 2025, with a potential slight improvement. According to global macroeconomic models and estimates by Trading Economics, the Libyan dinar is expected to trade at 4.89 against the dollar […]
The Head of the Accounting Department at the Libyan Academy for Graduate Studies, Abu Bakr Abu Al-Qasim, exclusively told our source: “Foreign exchange sales for personal purpose cards reached $472 million during the first 12 days of January. The Central Bank remains steadfast in its policy of meeting all foreign currency demands without interruption or […]
Financial expert Khaled Al-Zantouti told our source exclusively, “For years, we have failed to establish a fair exchange rate for the dinar, one that is determined using standard economic models based on recognized macro and microeconomic variables.” Al-Zantouti added, “Over the years, the exchange rate for our dinar has been determined by a group of […]
Economic expert Mohammed Al-Sanussi provided exclusive comments to our source regarding the Libyan dinar’s exchange rate in 2025. He stated, “In Libya, predicting the exchange rate in the parallel market is nearly impossible as the market is highly volatile and subject to significant changes due to any decision or even rumors.” He added, “However, with […]
The Media Office Manager at the Jumhouria Bank, Mohammed Saeed, announced the launch of the smart card service, one of the latest banking innovations in the country, designed to simplify and accelerate payment transactions at point-of-sale terminals. In an exclusive statement to our source, Saeed explained that the smart card allows customers to complete purchases […]
Italian strategic expert Daniele Ruvinetti told our source on Sunday that the potential relocation of the National Oil Corporation from Tripoli to eastern Libya entails significant risks, notably heightened tensions within the country. He emphasized that while authorities in the east have long expressed dissatisfaction with what they perceive as the central management of the […]
Economic expert Saber Al-Wahsh exclusively told our source that the exchange rate is a product of interaction rather than a decision. He explained: “Although adjusting the exchange rate is issued by the Central Bank, its execution relies on the government and the National Oil Corporation. The Central Bank’s role is limited to addressing emergency circumstances […]
The Independent Arabia reported on Saturday that the issue of oil has resurfaced in Libya. This follows the request made by the Speaker of the House of Representatives, Aguila Saleh, earlier this week during a parliamentary session. He called on the head of the National Oil Corporation, Farhat Bengdara, to clarify the factors preventing the […]
Argus Agency reported today, Friday, that Libya’s crude oil exports decreased by only 2% last year, despite several months of politically driven blockades at ports and oil fields. According to Argus tracking data, the country exported 973,000 barrels per day across 12 crude grades in 2024, slightly less than in 2023, when 989,000 barrels per […]
The British newspaper Independent reported today that several African countries maintain significant foreign currency reserves to mitigate economic shocks, support imports, and maintain their financial credibility on the international stage. The reserves of several countries at the end of 2024 reflect a highly positive outlook despite the tough global environment. The rise in the prices […]
The French website Africa Intelligence reported that a new legal case is expected to be filed against Farhat Omar Bengdara, in addition to two previous cases. This case is based on a ruling by the Tripoli Court of Appeals, which determined in October that the head of the National Oil Corporation holds UAE citizenship. According […]
Libyan citizen Amin Bin Saud, the husband of a cancer patient receiving treatment in Egypt, has made a heartfelt appeal to House of Representatives Speaker Aguila Saleh, Prime Minister Abdulhamid Dbeibeh, and all Libyan officials to address the dire situation faced by Libyan patients undergoing treatment in Egypt. According to reports, these patients, who placed […]
Our source has exclusively obtained correspondence from the National Oil Corporation (NOC) addressed to the Chairman of the Libyan Audit Bureau. In this correspondence, the NOC responded to the Audit Bureau’s request to stop using the fuel barter system beginning in 2025, explaining the difficulties in ceasing this system. The NOC stated that references to […]
Professor of Economics at the University of Benghazi, Atiya Al-Fitouri, explained in a post on his personal page the problem of the increase in the dollar exchange rate in the foreign exchange black market, despite the opening of documentary credits for small traders with $500,000, and breaking down the amount into segments of $100,000 each […]
