Libyan debate on import rules to curb black currency market

The article focused on the decisions made by the governments of Western and Eastern Libya to organize the import of goods through banking channels and to prohibit imports outside of them, aiming to reduce demand for dollars in the black market. The implementation of these measures began on September 30th, and their goal is to control the foreign exchange market and decrease unofficial dollar transactions, especially given that the unofficial market price has increased by 47% over the official rate. It is believed that effective enforcement could help stabilize the currency market, but critics argue that the decision may weaken small traders and strengthen the monopoly of large traders, while the foreign currency liquidity crisis persists. The article explains that the gap between the official and black market rates increases pressure on the exchange market, with criticisms concerning the distribution of foreign currency and the effectiveness of regulatory measures.

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