The Governor of the Central Bank of Libya, Naji Issa, stated that the bank will supply the final shipment of US dollars during this week, noting that the available quantities will be sufficient to cover market needs for the next three months. He added that there is an agreement with international banks to supply consecutive monthly shipments based on the Central Bank’s demand.
Issa expressed confidence that the Central Bank’s plan, in cooperation with commercial banks and exchange companies, will help reduce the exchange rate gap to below 7 Libyan dinars. He indicated that a circular will be issued outlining the mechanism for operations and the distribution of foreign currency to banks, emphasizing that the procedures will be smooth and facilitated.
He also pointed to commitments from international banks and institutions to support the Central Bank’s efforts, particularly in managing reserves and supporting exchange rate stability. At the same time, he affirmed the bank’s determination to take measures that strengthen the Libyan dinar, in coordination with relevant authorities, and to benefit from improved oil prices and revenues, while obligating all parties to implement a unified public spending framework.
The governor explained that there is readiness to inject more than $2 billion in cash according to specific needs that will be announced later, stressing that maintaining foreign currency reserves remains a fundamental objective that will not be compromised.
He further confirmed coordination with security authorities to combat any practices that harm the strength of the Libyan dinar, working to deter the black market and shift its activity into the formal framework through banks and exchange companies.
He added that measures will be announced to facilitate the circulation of foreign currency between banks and customer accounts, including allowing the sale of US dollars in cash for purposes such as medical treatment and education.
Regarding liquidity, Issa confirmed the bank’s readiness to provide it according to citizens’ needs, noting that contracts have been signed to print large quantities of Libyan currency, with the aim of ending speculation between check-based and cash exchange rates.
He also highlighted the continued expansion of electronic payment services, which now cover more than 95% of activities and regions, in addition to coordination with the Ministry of Finance to impose strict measures requiring all entities to join the “Ratibak Lahthi” (Instant Salary) system without exception, aiming to cover all public sector employees.
In a related context, the governor stated that measures will be taken in cooperation with the Ministry of Economy to regulate prices, determine market needs for goods, and tighten oversight to prevent smuggling through border points. Importers benefiting from letters of credit will be required to set prices for goods, with penalties imposed on violators.
