Changing the governor is a mere spectacle who gains from currency monopoly
The article discusses the economic situation in Libya and the impact of the declining value of the dinar and pressures on the foreign exchange market. Experts emphasize that the resignation of the Governor of the Central Bank of Libya will not solve the crisis as long as previous policies and approaches continue. They link the deterioration of the dinar to unilateral financial and monetary policies and repeated currency devaluation decisions since 1999, which have led to inflation and economic distortions, with similar measures taken in 2016, 2020, 2024, and 2026. The article also highlights poor resource management and the absence of coordination among economic institutions, which have worsened the foreign currency gap and driven up prices. Experts like Dermish suggest reevaluating currency management tools, regulating dollar distribution by allocating $15,000 annually to each citizen, ensuring fair currency allocation, improving transparency in accounts, and conducting thorough financial audits. They stress that stabilizing the dinar depends on comprehensive reforms of fiscal and monetary policies, not just personnel changes. Additionally, they emphasize the importance of preparing annual budgets and regularly closing accounts to ensure financial clarity and achieve economic stability.
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