Our source at the Central Bank of Libya confirmed exclusively that the Bank has allocated billions of dollars to contain market volatility, now operating under legal frameworks and Central Bank oversight.
According to the source, positive signs have begun to emerge in terms of controlling public spending, especially parallel spending, thanks to certain understandings between local and international parties.
The source added: “Once this package succeeds — including the withdrawal of the 20-dinar banknote and the launch of licensed exchange offices — the exchange rate of the U.S. dollar is expected to fall below 7 dinars. At that point, the Central Bank will be able to abolish the 15% surcharge.“
