By John Lee.
Leading Libyan businessman Husney Bey (pictured), the head of HB Group, has said that the solution to Libya’s economic crises is devaluation.
He told Libya Herald:
“The solution to Libya’s economic crises is devaluation: to change the official Libyan dinar exchange rate to a realistic one in order to achieve an economic balance. This has now become the only option.
“Other options such as further controls and restrictions on foreign exchange or the pumping of more money into the economy will only make things worse.
“Printing more money creates inflation and it is unable to substitute the cash in circulation.”
The wide-ranging interview can be read here.
(Source: Libya Herald)