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Al-Bouri: “distorted exchange rate is one of the root causes of corruption in Libya.”

” The protests, the people’s demands are not extinguished, and nobody will ever be able to stop them.” the Libyan banker Noman Al-Bouri said during “Flusna”, a television programme broadcasted on WTV channel and Tabadul Platform.

Al-Bouri said that demonstrations are taking place at a very slow pace as a result of the arbitrary arrests of demonstrators as well as the use of force against them.

” Since Thursday, the Libyan Presidential Council (PC) has been carrying out a number of resolutions, one after another… As soon as the PC finishes his ceremonial series of resolutions, the people will hold demonstrations again after making sure that their demands are not met.” Al-Bouri added.

” I don’t think that the PC does not realize what the people want through their demonstrations.” The expert in banking matters pointed out, adding that demonstrations were motivated by frustrations about shortages of electricity, the lack of liquidity, the unification of the dual exchange rate as well as the consolidation of the state institutions.

” Counsellors at the Libyan Presidential Council have no intention of giving effect to these resolutions and implementing radical solutions because this would cut off their sources of funding.” He added.

Al-Buri referred to the exchange rate issue, considering it a solution for 60 to 70 percent of the people. He also said that 60% of the widespread corruption is because of the distorted exchange rates and the issue of subsidies.


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