{"id":253506,"date":"2025-04-06T19:37:12","date_gmt":"2025-04-06T17:37:12","guid":{"rendered":"https:\/\/sada.ly\/en\/?p=253506"},"modified":"2025-04-06T19:37:12","modified_gmt":"2025-04-06T17:37:12","slug":"al-zantouti-after-todays-dinar-devaluation-whats-next-and-is-this-the-end","status":"publish","type":"post","link":"https:\/\/sada.ly\/en\/al-zantouti-after-todays-dinar-devaluation-whats-next-and-is-this-the-end\/","title":{"rendered":"Al-Zantouti: &#8220;After Today\u2019s Dinar Devaluation \u2013 What\u2019s Next, and Is This the End!?&#8221;"},"content":{"rendered":"\n<p>Financial Analyst Khaled Al-Zantouti wrote an article saying:<br>Today, our Central Bank came out with a decision to devalue the exchange rate by <strong>13.3%<\/strong> (and I don\u2019t know why the decimal is over 13 \u2014 is it the result of accurate calculations based on a fair pricing model for the dinar (I hope so), or is it a stroke of bad luck within a \u201chit or miss\u201d framework?). In truth, the devaluation may exceed <strong>16%<\/strong> if we take into account the increase in the tax amount as well.<\/p>\n\n\n\n<p>This decision and its context are not surprising \u2014 it was expected from the Central Bank, as it has no other solutions under a miserable legacy and a bitter reality. And for that, it is excused \u2014 perhaps this is its way of showing the truth as it is. But the big question remains: <strong>Is this the end, or are there more endings to come?<\/strong><\/p>\n\n\n\n<p>We hope this is the end, but unfortunately, the data and figures presented by the Central Bank today suggest otherwise.<br>When the <strong>dollar spending deficit<\/strong> reaches around <strong>50%<\/strong>, and when <strong>public debt<\/strong> hits <strong>330 billion dinars<\/strong>, exceeding <strong>130% of GDP<\/strong>, and this debt is <strong>consumptive<\/strong>, plagued by <strong>corruption and the corrupt<\/strong>\u2026 and when the <strong>per capita share of public debt<\/strong> reaches about <strong>45,000 dinars<\/strong> (while less than two years ago it was <strong>30,000 dinars<\/strong>), that means a yearly increase of about <strong>25%<\/strong>, and when <strong>public spending<\/strong> reaches unprecedented levels, and <strong>salaries<\/strong> hit <strong>75 billion<\/strong>, and the <strong>two governments<\/strong> continue in <strong>suspicious consumptive spending<\/strong>, and when, and when, and when\u2026 etc.<\/p>\n\n\n\n<p>And when both <strong>legislators and executives<\/strong> insist on creating conflict and division, strengthening fragmentation to stay in power, fighting over shared wealth \u2014 with <strong>corrupt, corrupting hands<\/strong>, backed by <strong>power, dirty money, smuggling, mismanagement, regionalism, and quotas<\/strong> \u2014 and I don\u2019t generalize&#8230;<\/p>\n\n\n\n<p>Then what do you expect \u2014 is this the end?<\/p>\n\n\n\n<p>Unfortunately, if we continue on this path, we\u2019re heading toward <strong>the mother of all ends<\/strong>.<br>After this <strong>official devaluation of the dinar<\/strong>, traders will exploit the situation and raise their prices by <strong>much more than the devaluation percentage<\/strong> \u2014 some may raise prices by <strong>25% or more<\/strong>. We\u2019ll see!<\/p>\n\n\n\n<p>They will ignore the fact that their <strong>letters of credit<\/strong> were opened at the old rate, and their <strong>warehouses are full of goods<\/strong> that have been stocked for a while. They were prepared \u2014 they knew in advance this devaluation was coming!<br>I don\u2019t mean to generalize \u2014 maybe there are those who are honest with God and themselves.<\/p>\n\n\n\n<p>The solution isn&#8217;t just in <strong>unifying the general budget<\/strong>. It goes <strong>much deeper<\/strong> \u2014 to treating the <strong>underlying causes<\/strong> of this unreasonable consumptive spending, to treating the <strong>corruption and mismanagement<\/strong> that made us among the world\u2019s most infamous corrupt nations.<\/p>\n\n\n\n<p>It means addressing our <strong>regional divisions<\/strong>, our \u201cmy share\u2013your share\u201d mentality. It means <strong>restructuring our economic and administrative systems<\/strong> with <strong>scientific, objective methods<\/strong>, and <strong>Libyan national spirit<\/strong> \u2014 even without any (pan-Arab) zeal, or Septemberist, or Februaryist affiliations.<br><strong>We are all children of Libya. Libya is the homeland and the refuge.<\/strong><\/p>\n\n\n\n<p>If there is <strong>will and sincerity with God and the nation<\/strong>, the <strong>solutions are obvious<\/strong>, and we can all \u2014 I repeat, <strong>all<\/strong> \u2014 solve our economic, political, and social problems.<br>Just a bit of <strong>integrity<\/strong>, and remember the words of the Almighty:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIndeed, Allah will not change the condition of a people until they change what is in themselves. And when Allah intends for a people ill, there is no repelling it. And there is not for them besides Him any patron.\u201d<br><strong>[Surah Ar-Ra\u2019d, 13:11]<\/strong><br><strong>True are the words of God Almighty.<\/strong><\/p>\n<\/blockquote>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Analyst Khaled Al-Zantouti wrote an article saying:Today, our Central Bank came out with a decision to devalue the exchange rate by 13.3% (and I don\u2019t know why the decimal is over 13 \u2014 is it the result of accurate calculations based on a fair pricing model for the dinar (I hope so), or is [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":253507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[683],"tags":[628,658,613],"class_list":["post-253506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-articles","tag-central-bank","tag-exchange-rate","tag-libya"],"acf":[],"_links":{"self":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/253506","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=253506"}],"version-history":[{"count":1,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/253506\/revisions"}],"predecessor-version":[{"id":253508,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/253506\/revisions\/253508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media\/253507"}],"wp:attachment":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media?parent=253506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/categories?post=253506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/tags?post=253506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}