Tag Archives | Libyan Dinar

End to Libyan Liquidity Crisis “by early 2019”

By John Lee. The Deputy Prime Minister of the Tripoli-based Government of National Accord (GNA) has reportedly said he sees the Libyan dinar stabilising next year as restoring liquidity could crimp armed groups’ funds. Ahmed Maiteeg (pictured) told Reuters that Libya expects to end a long-running liquidity crisis by early 2019 as a foreign currency tax […]

Libyan GDP Grew 55% in 2017

According to the WFP‘s latest Safety Nets Alert Platform (SNAP), the Gross Domestic Product (GDP) in Libya grew up by 55 percent in 2017 from the previous year. The improved performance has been driven by a revival in oil output and a pick-up in global oil prices. Crude Oil Production in Libya decreased slightly to […]

Libyan Dinar continues to Fall

By John Lee. A recent report has found that, since November, the Libyan dinar has lost 9.1 percent against the US dollar on the ‘parallel’ market, having already depreciated by 4.8 percent in the previous month. Swiss-based NGO REACH says that this has created further inflationary pressures in Libya. The full report can be downloaded […]

Libyan Dinar Falls Further

By John Lee. The Libyan dinar has reportedly fallen further in value in recent days, breaking the LD 9 to the US dollar mark. A black-market currency trader told Libya Herald that the fall was caused by a combination of factors, including the fighting in Wirshefana and the shortage of hard currency on the market. […]

Private Sector to Restore Oilfields

By John Lee. The Chairman of the National Oil Corporation (NOC) held a meeting with Chairman and Members of the Libyan Businessmen Council on Thursday. Mustafa Sanalla opened the meeting referring to the decline of the exchange rate of the Libyan Dinar and its impact on the national economy. He also mentioned the efforts exerted […]

Central Bank distributes $303m to Households

By John Lee. The Central Bank of Libya (CBL) has said that it has distributed more than $303 million to Libyan households from 12th February to 23rd May. The dollars were made available at the official rate of 1.4 dinars per dollar; the black-market rate is currently around 8 dinars per dollar. Individuals are entitled […]

Will Libya Devalue its Dinar?

By Jason Pack for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Nearly six years after the fall of Col. Moammar Gadhafi in 2011, the tally of political, social and security-related challenges facing Libya is considerable. International efforts to reconcile the deep political […]