The Central Bank of Libya exclusively told our source that it is working on a plan to contain the market based on a set of priorities, and that the exchange rate will fall below LYD 9 at the beginning of October.
It added that the Central Bank will absorb an acceptable deficit to contain the market if oil revenues do not cover the required amount, with a target of injecting $3 billion starting in October until reaching the targeted interim rate. This measure will also support the unification of the salary schedule, along with a number of financial and economic reforms that will be announced later.
