Our source revealed that following growing calls and warnings from the Central Bank regarding oil revenues and the rising fuel import bill, which has reached $1.4 billion per month, dormant institutions have begun taking action and reviewing these files.
The source said there are expectations that the fuel import bill will decline significantly, accompanied by an improvement in the transfer of oil revenues to the Central Bank.
This follows the discovery of pending amounts and settlements worth billions of dollars that are expected to be transferred to the Central Bank of Libya in the coming days. This is expected to ease pressure on the Central Bank to inject foreign currency into the market and help stabilize the foreign exchange market.
The exchange rate is expected to decline to around LYD 8.60 per US dollar by next Sunday and by the middle of the following week.
