The Central Bank of Libya announced, exclusively to our source, an improvement in oil revenues and royalties collected during April. After deducting fuel expenses, revenues reached approximately $2.4 billion, with expectations to rise to $2.6 billion in May. This increase is expected to strengthen the bank’s ability to meet demand for foreign currency, avoid deficit financing, and maintain exchange rate stability below 7 dinars.
The bank also stated that $2.6 billion was injected during May to cover letters of credit, personal purposes, and transfers. This comes as part of a strategy aimed at reducing the exchange rate and overall price levels, while supporting market stability.
