Tag Archives | Central Bank of Libya (CBL)

More Russian-Printed Dinars enter Circulation

By John Lee. A parallel central bank in eastern Libya reportedly stepped up deliveries of new banknotes from Russia earlier this year, around the time that Khalifa Haftar launched his military offensive to capture Tripoli. Russian customs data obtained by Reuters shows nearly 4.5 billion Libyan dinars ($3.2 billion) despatched between February and June, apparently […]

Consultations on Unified and Transparent Libyan Institutions

Consultations on Unified and Transparent Libyan Energy and Economic Institutions U.S. and Libyan officials met in Washington to discuss specific measures to increase transparency and accountability of economic and energy institutions, support unified governance of sovereign institutions, and ensure stable financing for Libya’s energy sector. Participants reaffirmed the need for all sovereign institutions, including the […]

An Update on US Involvement in Libya

Ambassador Richard Norland’s First 60 Days – An Update on U.S. Involvement in International Efforts Aimed at Peace in Libya In recent months, the United States has redoubled efforts to end the fighting and support UN initiatives led by UN SRSG Ghassan Salamé to achieve a negotiated political solution to the crisis in Libya. In […]

LBBC to hold Conference in Tunis in November

The Libyan British Business Council (LBBC) has announced that it will be taking a business delegation to Tunis again this year – from Monday 18 to Thursday 21 November, 2019. This follows on from last year’s very successful trade and investment mission, when it took over 60 representatives from 36 member companies to Tunis to […]

Libyan Finances Ahead of Plan for Jan-Aug Period

By John Lee. Libya’s total revenues were 1.1 billion Libyan dinars ($800 million) ahead of budget for the first eight months of the year, according to a statement from the Central Bank of Libya (CBL) on Monday. Oil revenues were 2.6 billion dinars ahead at 20.2 billion dinars, with all other revenue sources being below […]

Tender: Audit Review of Central Bank of Libya

United Nations Re-Opens Bidding on Financial Audit Review of Libya’s Two Branches of the Central Bank of Libya Restoring confidence, promoting transparency, and supporting the reunification of Libya’s financial and economic institutions are crucial to Libya’s stability and the prosperity. Towards this end, UNSMIL remains committed to facilitating a financial audit review of the two […]

Predatory Economies in Eastern Libya

From Global Initiative. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News.  Predatory Economies in Eastern Libya – The dominant role of the Libyan National Army On 4 April 2019, the Libyan National Army (LNA) launched a surprise attack on Tripoli, as the UN-sponsored dialogue […]

24% Increase in Libyan Oil Revenues

By John Lee. The National Oil Corporation (NOC) has announced May income of 2.3 billion USD from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts – a monthly increase of approximately 448 million USD (+24 percent). Revenue figures were bolstered by sustained global oil prices, in […]