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 restrictions, despite rumors propagated by speculators aiming to create chaos in the market with claims of halting the foreign currency sales system.”
He added, “Despite inflated and uncontrolled government spending, coupled with declining oil revenue flows, the Central Bank continues to lead the battle against market speculators alone through a well-thought-out policy, even as governments remain idle.”
He concluded by saying, “It is imperative for everyone to stand by the Central Bank in its battle against speculators and exert pressure on governments in both the East and West to rationalize spending and deposit oil revenues fully into the general revenue account at the Central Bank without deductions. This is the only solution to maintaining the strength of the dinar and potentially improving its value in the near future.”
