The Central Bank of Libya revealed exclusively to our source that it has decided to inject $1.5 billion as an initial tranche for personal purposes, with the proposal also covering medical expenses. As part of efforts to increase the supply of U.S. dollars, the bank expects to raise the personal foreign currency allowance to $4,000, while also increasing allocations for letters of credit to compensate for supply shortages and meet citizens’ needs for goods and services.
This comes after the receipt of actual revenues for April, which are expected to reach $3 billion. The bank also outlined a short-term plan aimed at gradually strengthening the Libyan dinar to 6.90 LYD per USD.
