29 Days
Source:
عين ليبيا
Expert Reveals How Gangs Operate the Black Market and Manipulate Currency in Libya
Libya is facing an economic crisis due to poor management of monetary and financial policies. Unplanned government spending and limited coordination between policies have led to a decline in the value of the Libyan dinar and an increase in exchange rates. Experts explained that the pressure on the dinar results from rising spending, especially on wages and salaries, mismanagement of appointments, and policies that provide dollars, which have fueled the black market. The specialists called for rectifying the market situation by cutting off sources of the black market, improving oversight of foreign currency use, and reducing procedural obstacles to import activities. They emphasized that unifying the Central Bank of Libya and implementing genuine economic reforms, along with ending political division, are essential steps to achieve comprehensive economic stability in the country.
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