The Central Bank of Libya told our source that, in light of rising international grain prices and a relative shortage in global markets, it had decided to grant urgent approvals for letters of credit covering all types of grain, corn, and feed manufacturing additives, worth $300 million, available through the letters of credit system and submitted by banks.
The Central Bank added that it would continue granting approvals for other applications as they were received. It stressed that this did not diminish the importance of other commodities, which would also be considered for expedited approvals.
