Libya’s liquidity crisis nearing end
Economic expert Mukhtar Al-Jadeed spoke about a significant improvement in the liquidity crisis in Libya over the past two years, attributed to the remarkable development in electronic payment systems, which helped address the crisis and resolve the issue of clearance checks. He pointed out that the results of this development are clear and represent an achievement for the Central Bank and a success in achieving financial inclusion, noting that the progress has reached approximately 90%. Al-Jadeed explained that a definitive resolution to the crisis requires the availability of cash in banks without an actual demand for withdrawals, considering that this is now possible following recent developments. He added that the crisis will end once cash is available and people no longer need to withdraw it. He also inquired about the next steps the bank plans to take to achieve this final accomplishment.
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