Former member of the Board of Directors of the Central Bank of Libya, “Mraaje’ Ghaith,” said in an exclusive statement to our source that 2025 was not a good year for the Libyan economy, as it went through several crises, most notably rising inflation rates and higher prices of basic commodities, in addition to the chronic crisis represented by the liquidity shortage.
Despite attempts by the Central Bank to address these issues, the negative stance of other state actors and the failure to take decisive measures regarding the use of cash in transactions weakened the Central Bank’s efforts in this regard.He continued: With regard to the dollar, the Central Bank must regulate its use toward channels that benefit the economy and citizens, and should not heed calls to provide dollars to anyone who requests them, but rather to those who deserve them.
Ghaith concluded his statement by saying that the economic situation in 2026 depends on the availability of resources and the implementation of reforms in the general budget and its approval, in order to curb waste of public funds and reduce many unnecessary expenditures. Without a unified budget and control of public spending, there will be no economic improvement, and without oversight over the uses of foreign currency, the Central Bank will continue to suffer from an inability to confront demand, which he considers unjustified demand for foreign currency.
