The American website APA reported that the Central Bank of Libya has expressed concerns over a significant gap between foreign currency sales and oil revenues in mid-March, placing increasing pressure on the country’s reserves and economy.
The website confirmed that between March 1 and 17, 2025, the Central Bank of Libya sold $2.3 billion in foreign currency, while oil revenues during the same period amounted to only $788 million. This stark contrast highlights the growing pressure on Libya’s financial stability.
The website pointed out that despite these challenges, the Central Bank of Libya remains committed to ensuring regular foreign currency supplies to meet local market needs, while simultaneously maintaining financial sustainability and foreign reserves.
The article further noted that data from January and February 2025 show a rising trend in foreign currency usage, with $5.53 billion used, marking a 395% increase compared to the same period last year. Of this usage, 53.7% was private sector spending, and 43.1% was related to letters of credit.
The website concluded that the combination of rising demand for foreign currency and declining oil revenues is exerting significant pressure on the overall economic balance in Libya, signaling potential future economic challenges.
