The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, confirmed today, Wednesday, during the fifth cabinet meeting of 2023, that the availability of data and statistics during the assumption of the National Unity Government contributed to the continuation of negotiations with the International Monetary Fund, which had been in agreement for 10 years.
Al-Kabeer added that the volume of the public debt, corresponding to the year 2023, amounted to 8 billion dinars, indicating that the public debt negatively affected cash liquidity and the strength of the Libyan dinar.
The governor indicated that there are some banks that exhaust their entire cash flow and suspend the sukuk because they are spent without cash coverage, pointing out that the biggest problem we face is in the Trade and Development Bank, and we are working to solve the problem in coordination with the central branch in Benghazi.
Al-Kabeer continued: “The lie of closing the clearing was claimed by Ali Al-Habri and the percentage of acceptance of instruments on the clearing in the national system exceeds 96%, denying the closure of clearing between the banks of the eastern and western regions as part of the national payment system.”