In an exclusive statement to our source regarding the suspension of import and export operations outside the approved banking channels, Economy Minister “Suhail Abu Sheikha” confirmed that there is unprecedented coordination between the government and the Central Bank of Libya in managing the macroeconomic file, particularly foreign trade policy and market regulation, within a unified government approach aimed at controlling public finances at the national level, organizing foreign currency use, and strengthening market stability.
The minister added that with the elimination of deficit financing and the adoption of unified public spending, the state’s priority is now to organize the market and protect the national economy from distortions and unregulated practices that have burdened both the market and citizens’ living conditions.
He further stated that the Central Bank has already completed the most difficult part through various monetary measures and unprecedented policy innovations, while the Ministry of Economy is working to translate these measures into lower prices as quickly as possible through sustainability, market competitiveness, and stable supply chains, in preparation for presenting the necessary complementary measures to ensure the success of the decision during the upcoming Cabinet meeting.
