{"id":257926,"date":"2026-08-11T23:16:00","date_gmt":"2026-08-11T21:16:00","guid":{"rendered":"https:\/\/sada.ly\/en\/?p=257926"},"modified":"2026-08-12T00:12:32","modified_gmt":"2026-08-11T22:12:32","slug":"al-farisi-writes-the-features-of-urgent-reform-to-halt-the-economic-collapse-reforming-policies-then-integrating-them","status":"publish","type":"post","link":"https:\/\/sada.ly\/en\/al-farisi-writes-the-features-of-urgent-reform-to-halt-the-economic-collapse-reforming-policies-then-integrating-them\/","title":{"rendered":"Al-Farisi Writes: The Features of Urgent Reform to Halt the Economic Collapse\u2026 Reforming Policies, Then Integrating Them"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Central Bank of Libya Monetary Policy Committee member Ayoub Al-Farisi published a statement entitled: \u201cThe Features of Urgent Reform to Halt the Economic Collapse\u2026 Reforming Policies, Then Integrating Them.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Monetary policy cannot operate in a vacuum, nor does it possess magical tools to address a deficit that is fundamentally caused by \u201cthe loss of control over the state\u2019s public finances,\u201d along with high levels of corruption and wasteful public spending.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the Central Bank to regain control over its policy tools\u2014exchange rates, monetary stability, and containing inflation\u2014it needs a foundation of structural fiscal reform that removes corruption and brings spending under control without burdening citizens with the consequences of these crises.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Establishing Rules for Fiscal Discipline and Transparency (The State\u2019s Financial Law)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Unifying government spending:<\/strong> Requiring all parties and executive authorities to comply with the state\u2019s financial law and consolidating revenues into the general revenue account at the Central Bank.<\/li>\n\n\n\n<li><strong>Subjecting budgets to oversight:<\/strong> Subjecting all spending operations and contracts to prior and subsequent oversight by the Audit Bureau and other regulatory authorities.<\/li>\n\n\n\n<li><strong>Regular publication of financial data:<\/strong> Requiring the Ministry of Finance to publish monthly disclosure reports detailing where every dinar spent goes and the sources of revenue, in order to promote transparency and restore public and market confidence.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Removing corruption from the fiscal equation and closing channels of waste in fuel subsidies and excessive public-sector employment would be sufficient to save billions of dollars annually. This would immediately ease pressure on public debt and demand for foreign currency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Only then will the Central Bank have the appropriate environment and sufficient fiscal backing to manage monetary policy efficiently, preserve the value of the Libyan dinar, and maintain price stability without placing an excessive burden on citizens.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Central Bank of Libya Monetary Policy Committee member Ayoub Al-Farisi published a statement entitled: \u201cThe Features of Urgent Reform to Halt the Economic Collapse\u2026 Reforming Policies, Then Integrating Them.\u201d Monetary policy cannot operate in a vacuum, nor does it possess magical tools to address a deficit that is fundamentally caused by \u201cthe loss of control [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":257717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-257926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - 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