The Central Bank of Libya told our source exclusively that today is the final deadline for citizens to deposit the 50-dinar banknote at commercial banks, and there is no intention to extend the period for its use. The Bank confirmed that the final value of the 50-dinar deposits will be determined after sorting by the […]
Libyan businessman Hosni Bey participated in the inaugural Libya–U.S. Business and Development Forum held in Washington, D.C., organized by the Libya Reconstruction Organization in partnership with the Libyan American Business Association. During the event, Bey presented a comprehensive vision to reshape Libya’s economic model, stressing the importance of moving away from the traditional model based […]
In an exclusive statement to our source, Minister of Oil and Gas Mohamed Aoun commented on the announcement by Arcano Oil Company regarding its joint operation in oil production with the National Oil Corporation (NOC). Aoun clarified that it was the Prime Minister of the Government of National Unity, Abdulhamid Dbeibeh, who issued the decisions […]
The Board of Directors of the National Oil Corporation has issued a series of decisions, including granting financial bonuses to employees who have completed their years of service and retired upon reaching the legal retirement age, with a sum of 5,000 Libyan dinars. The decisions also include amendments to annual bonus amounts based on years […]
In an exclusive statement to our source, Al-Saray Bank shareholder No’aman Al-Bouri announced that the bank’s Board of Directors has held a vote to appoint a Chairman and Deputy Chairman. Al-Bouri stated that Ahmed Atiga was elected as Chairman of the Board, and Basim Tantoshi as his Deputy, during a session marked by professionalism and […]
Nasser Al-Ma’arifi, Head of Economic Strategy and member of the Advisory Board at the National Planning Council, told our source that Libya’s economic situation is gradually deteriorating, placing an increasing burden on citizens. He explained that the main challenges facing the Libyan economy stem from internal and external political instability, compounded by crises in the […]
In a statement to Erem Business, Professor of Economics at the University of Benghazi, Ayoub Al-Farisi, said that the International Monetary Fund (IMF) typically intervenes in a country’s economic decision-making when that country requests a loan. The IMF then seeks to ensure repayment by imposing reforms, taxes, currency devaluation, and flotation. In exchange for the […]
Jalel Al-Harchaoui, an expert in Libyan affairs at the Royal United Services Institute (RUSI), told our source on Sunday that every three to six months, Libyan officials reiterate the importance of lifting fuel subsidies. For example, in March 2021, Prime Minister Dbeibeh announced the formation of a new committee tasked with implementing this removal, but […]
Written by financial analyst Khaled Al-Zantouti: Once again, the elite and their demand to cancel or replace the subsidy!! To begin with, we are all aware of the negative effects of excessive and unregulated fuel subsidies, and how these can sometimes negatively impact even citizens themselves—through the horrific road accidents we witness daily, and through […]
The Governor of the Central Bank of Libya, Mr. Naji Issa, held a series of important meetings during his recent visit to the United States, on the sidelines of the IMF and World Bank Annual Meetings. One of the key meetings was with J.P. Morgan Bank, marking a strategic step aimed at achieving several goals: […]
The Middle East and North Africa website reported on Thursday that development projects in Libya continue to face obstacles, as the Libyan people struggle with poverty, high unemployment, and economic stagnation. The report stated that UN sanctions on Libya are expected to intensify, while Libyan officials refrain from fully demanding the unfreezing of Libyan assets […]
Sada Economic has obtained a decision from the Chairman of the Board of the General Electricity Company stating that the electricity rate during the summer peak hours — from 1 PM to midnight — will be set at 1 Libyan dinar per kilowatt-hour, while the rest of the day will be charged at 500 dirhams […]
Al-Sada Economic has exclusively obtained the Government of National Unity’s decision to register all lands and housing site locations — that have been transferred to it under existing legislation — in the name of the National Program for Housing and Real Estate Development, as well as all project sites managed by the program in accordance […]
Our source from the Central Bank of Libya revealed that the Bank’s battle with major traders has reached a breaking point, as Governor Nagy Issa has dealt a series of successive blows to currency dealers, inflicting heavy losses. As a result, some affected parties have launched media attacks and smear campaigns against the Bank and […]
The French intelligence website Africa Intelligence revealed on Thursday that the American consulting firm K2 Integrity will be auditing the payments of the Central Bank of Libya. The French website confirmed that, under pressure from Washington, the Central Bank of Libya sought the services of K2 Integrity to oversee money transfers and help combat corruption.
