The Central Bank of Libya revealed exclusively to our source that after injecting $1.5 billion for letters of credit today, it will settle the remaining value of merchant and personal-use cards amounting to $400 million.
The Central Bank had stated to Sada yesterday evening that more than $1.5 billion was sold to banks to cover letters of credit on Monday and Tuesday, confirming that coverage will continue and that all systems are operating normally.
The Central Bank also confirmed that what is happening in the market is speculation aimed at pressuring for the cancellation of the review procedures for letters of credit—procedures that affected currency smugglers and fraudulent credits.
