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Cashing out January salaries together with February salaries

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In a statement to “Sada” economic newspaper, an official source claimed that the Governor of the Central Bank of Libya, Sadiq Kabir, sent a correspondence to the Chairman of the Presidential Council, Fayez Serraj, about cashing out the delayed salaries of January and February. Yet, cashing out allowances and extra work will be postponed.

The Central Bank of Libya stressed that it did not approve salary payments according to the monthly provision 1/12 of last year’s financial arrangements.

The bank also renewed its call for all blockades to be lifted in order to resume oil production immediately.

Suspected case of coronavirus arrives to Libya

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The head of the National Center for Disease Control, Badr al-Din Najjar, claimed that a Libyan citizen, coming from Rome, was suspected of being infected with coronavirus as he was suffering from high temperature and other symptoms similar to those of the virus.

In a statement to Tabadul, Najjar clarified that, after medical checkups, the result was negative.

Najjar added that the National Center for Disease Control is responsible for homeland health security, and that it plays its crucial role effectively all over the state thanks to the intensive efforts of workers in different regions of Libya.

The director of the National Center for Disease Control, in his statement, confirmed that they are now working had to prepare other quarantine chambers in order to professionally deal with suspected cases.

Oil prices fall for fifth day to lowest level in a year

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Oil prices fell 2% today, plunging for fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude.

Brent crude LCOc1 was down $1.06, or 2%, at $52.37 a barrel at 10:11 GMT.

West Texas Intermediate (WTI) futures CLc1 fell by 97 cents, or 2%, to $47.76 a barrel.

The spread of the virus to large economies including South Korea, Japan and Italy has raised concerns that growth in fuel demand will be limited.

Consultants Facts Global Energy forecast oil demand would grow by 60,000 barrels per day in 2020, a level it called “practically zero”, due to the outbreak.

Libya: lowest level of oil production since 2011.

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In an official notice published yesterday, National Oil Corporation summarised the situation across Libya for the oil and gas sector. 

Oil and gas production in Libya have been down since January 2020 as a result of the illegal blockade of ports and pipelines.

At the moment, the current levels of production are 135,723 barrels per day, as of Tuesday February 25, 2020. This is the lowest level of production since 2011. 

Forced restriction of production has resulted in financial losses exceeding $2 billion USD, at $2,223,941,659 USD. 

House of Representatives suspends its participation in Geneva talks

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Spokesman for the House of Representatives (HoR) in Tripoli, Hamouda Sayala, sent a statement to UN Secretary-General Mr. Antonio Guterch, suspending HoR”s participation in the political debate in Geneva.

In his statement, Sayala called not only for the return of refugees as fighting stopped, but also for an end to oil blockades.

Sayala also advocated a path of equity and reconciliation in order to tackle the issues related to refugees and displaced persons from all Libyan cities.

A cooperation for better access to services in Libya

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In a press release issued yesterday, EU emphasized that the rehabilitation of critical infrastructure and the delivery of better services to Libyans are at the core of the European Union funded programme on « Recovery, Stability and Socio-economic Development in Libya ». Implemented by the Italian Agency for Development Cooperation (AICS), the United Nations Development Programme (UNDP) and the United Nations Children’s Fund (UNICEF), the programme has already delivered important results.

AICS worked closely with the central and local authorities to select over 100 priority interventions in response to the most urgent needs and commenced operations in Janzur, Zuwara, Zawya and Ghat-Tahala, where specialised equipment will soon be provided to 8 health facilities.

UNDP has rehabilitated Al Barkat Clinic center for Ghat and Tahla providing health services to 25,000 people and provided four garbage trucks to Janzour and more than 500 garbage bins to Benghazi, Murzuq, Emsaed and Kufra municipalities. 

UNICEF has delivered essential health supplies and medical equipment targeting some 71,000 people, including 26,000 children, as well as water pumps in Ghat to serve around 30,000 people, including 6,000 children.  

The EU Ambassador to Libya, Alan Bugeja, stated: “The EU considers municipalities and communities as key for the stabilization, recovery and state-building process in Libya. Therefore, they must be properly empowered and supported to fulfil their role and responsibilities. EU support to municipalities in Libya is already exceeding 140 million EUR, provided through all EU assistance instruments and covering activities in 57 municipalities. Since the inception of the EU support programme, it has provided already over 3,500 Libyan families with basic support. 50 key social infrastructure facilities such as health centres, clinics, and schools have been renovated and started to provide services in the municipalities benefiting over 700,000 people – including migrants, internally displaced persons and Libyan municipalities.”

In this framework, the 50-million-euro allocation was assigned to the three implementing partners (AICS, 22 million euros; UNDP, 18 million euros, and UNICEF, 10 million euros) to enhance access to basic and social services and strengthen local capacity in 24 conflict and displacement-affected municipalities with a focus on health, education, water and sanitation.

With regard to the Libyan Dinar: International currencies stabilized

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Today, international currencies remained steady in the black market with regard to the Libyan Dinar.

Infact, the Dollar was stable at 4.24 LYD.

However, in the parallel market, the Euro along with the British Pound settled at 4.58 LYD and 5.45 LYD.

Nevertheless, the Turkish lira settled at 0.70 LYD, while the Tunisian dinar was stable at 1.50 LYD.

Awards ceremony of Libyan female entrepreneurs contest

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  In the framework of the project ”European Union for Private Sector in Libya (EU4PSL)”, funded by the European Union, 12 Libyan female entrepreneurs across Libya were awarded a prize of 5000 euros each at the awards ceremony “Women Female Entrepreneurs Contest” held in Tunis.

In total, 30 women from all regions of Libya participated in the contest, with innovative and creative business ideas. The winning business ideas cover organic foods, ceramics, waste management, photography, services, dental prothesis, organic soaps and finally paramedical assistance.

The contest took place in the context of EUPSL’s component on supporting women’s economic empowerment in Libya, with a set of activities including capacity building, mentoring and seed funding.

The 30 participants of this event will continue to benefit from a one full year of capacity building.