The head of the Accounting Department at the Libyan Academy, Dr. Abu Bakr Abu Al-Qasim, wrote an article titled: “Are the Hypotheses of Untraceable Spending and Currency Printing Resurfacing?”<\/p>\n\n\n\n
He stated that the Central Bank of Libya (CBL), caught between a policy of monetary flooding and restriction, stands alone in confusion over this abnormal and economically unjustified situation.<\/p>\n\n\n\n
The CBL\u2019s statement on March 12 revealed that foreign currency sales from March 1 to March 12 alone exceeded 1.7 billion dollars, evenly split between personal spending cards and annual credit allocations. This staggering figure, along with previous reports showing a demand exceeding 6 billion dollars in less than three months, raises serious concerns about the sources fueling this excessive and illogical demand.<\/p>\n\n\n\n
Abu Al-Qasim questions whether currency is being printed outside the monetary system’s control\u2014possibly even outside Libya itself\u2014thus driving the surge in foreign currency demand.<\/p>\n\n\n\n
The Central Bank now faces a dilemma: Should it continue flooding the market to stabilize the dinar\u2019s value, or implement restrictions that could lead to a rise in foreign currency rates against the struggling Libyan dinar? The latter could have severe repercussions on inflation and the cost of living.<\/p>\n\n\n\n
He warns that the situation is extremely serious and requires collective action. The CBL must not be left to fight alone in its battle to preserve the dinar\u2019s value.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The head of the Accounting Department at the Libyan Academy, Dr. Abu Bakr Abu Al-Qasim, wrote an article titled: “Are the Hypotheses of Untraceable Spending and Currency Printing Resurfacing?” He stated that the Central Bank of Libya (CBL), caught between a policy of monetary flooding and restriction, stands alone in confusion over this abnormal and […]<\/p>\n","protected":false},"author":13,"featured_media":253305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[683],"tags":[628,617,613,908],"class_list":["post-253304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-articles","tag-central-bank","tag-currency","tag-libya","tag-spending"],"acf":[],"_links":{"self":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/253304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/comments?post=253304"}],"version-history":[{"count":1,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/253304\/revisions"}],"predecessor-version":[{"id":253306,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/253304\/revisions\/253306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media\/253305"}],"wp:attachment":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media?parent=253304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/categories?post=253304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/tags?post=253304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}