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Author: LS

The Ministry of Finance: “Financial coverage is available”

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An official source in the GNA’s Ministry of Finance confirmed to “Sada” Economic Newspaper that the statement of the Central Bank of Libya concerning the return of money transfer to the Ministry of Finance as 2020 budget was not approved is totally incorrect.

He also added that the adoption of the budget has no relation with the assignment of January salaries because, generally, State Sector always disburates salaries in two or three months until the approval of the general budget.

“Financial coverage is available in public treasury accounts, and the Central Bank can cover January’s salaries”, he stressed.

The GNA’s Ministry of Finance announced that the Central Bank of Libya retrieved the money transfer of January salaries without offering any truly convincing reasons.

Libya: unbalanced wealth distribution

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In “Flusna” TV Show, Abdulbasset Al Jabuaa claimed that the wealth, represented in oil revenues, is not distributed fairly, indicating that there is a problem between citizens themselves.

Jabuaa clarified that justice is missing between citizens at the level of salaries and oil, indicating that it is all allocated to higher-income population.

He also called on the state to organize a unified salary scale that is distinguished by some other advantages in order to allow people to open up to the private sector following their qualification.

After the increase of dollar: Gold went down

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Today, gold edged down as the dollar rose and the World Health Organisation tempered fears of a global coronavirus outbreak.

Spot gold was 0.3% lower at $1,557.93 per ounce by 13:00 GMT.

U.S. gold futures slipped 0.5% to $1557.50 per ounce.

“Gold prices are facing headwinds from gaining equities and a stronger dollar but it is unlikely to fall below $1,520 as a bunch of geo-political uncertainties still exist,” Saxo Bank analyst Ole Hansen announced.

Attacks in Libya displaced thousands of children

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A senior UNICEF official warned that children in Libya are still suffering greatly during the violence and chaos resulting from the country’s long civil war.

Executive Director Henrietta H. Fore announced that “with the eruption of hostilities in Tripoli and western Libya, the conditions of thousands of children and civilians deteriorated, and random attacks in populated areas killed hundreds of people.”

Holsman Fore explained that she received reports about the maiming or killing of children, as they are recruited to fight in the battles. “At the same time, more than 150,000 people, including 90,000 children, were forced to flee their homes and are now internally displaced. Furthermore, the infrastructure on which children depend for their well-being and survival has been targeted, resulting in damage to nearly 30 health facilities, and the full suspension of 13 of them.”

The UNICEF official called on all parties with influence in the conflict “to protect children, put an end to their recruitment and exploitation, stop attacks against civilian infrastructure, and allow humanitarian aid to arrive safely and without hindrance.”

Oil prices up again

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 Oil prices climbed today, following a drawdown in U.S crude stocks.

Brent crude futures LCOc1 were up 31 cents, or 0.5%, at $62.35 a barrel by 07:41 GMT.

U.S. West Texas Intermediate futures CLc1 were up 27 cents, or 0.5% higher at $55.86 a barrel.

Libya: Crimes of Abductions in 2019

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Human Rights Solidarity announced that 1155 casualties of violent incidents in various cities in Libya were documented.

The vast majority, 79% of the victims were civilians (906 victims) and the percentage of victims from the police, security and military sectors was 12%, while 9% of the victims were not classified because they were not identified.

The percentage of victims of assassinations, including bombings, terrorist attacks and extrajudicial killings, accounted for 39% of the total casualties, detentions by 33%, and kidnappings by 20%.

During the second half of 2019, the number of victims of kidnapping crimes and assassinations increased by 72% compared to the first half of the year.

Human Rights Solidarity claimed that September was the most violent, with 169 victims, representing 15% of 2019 victims.

In 2019, there were 21 documented abductions of women , 7 survived and returned, while the bodies of two victims were found in Benghazi.

The fate of another twelve victims remains unknown, including Ms. Siham Serqewa , a member of the House of Representatives.

Merkel: Libya should not become a ‘second Syria’

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Yesterday, German Chancellor Angela Merkel called on the international community to make stronger efforts for peace in Libya in order to prevent the country from descending into a proxy war between regional actors.

“We have to be very careful that what happened in Syria, will not happen again in Libya,” Merkel claimed at the World Economic Forum in Davos, warning against the devastating consequences of a deepening proxy war.

“We have to be vigilant about these peace processes, we have to care for them, despite all the difficulties,” she stressed.

Tunisia: discusses Berlin conference fallout

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Special Representative of The Secretary-General (SRSG) Ghassan Salame and DSRSG for political affairs Stephanie Williams met yesterday in Tunis with Fawzi Al-Nuweiri and Ahmed Houma, first and second deputy of Libya’s House of Representatives Speaker. They discussed the Berlin Conference outcomes and the revival of Libyan-led political process to end the crisis.

Libya’s total 2019 state revenues

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In a report issued in their official website, the Central Bank of Libya estimated expenditures of the financial arrangements of all sectors across the country for the period 1 january 2019 to 31 December 2019.

2019 state revenues were up on budget estimates, the Tripoli Central Bank of Libya revealed in its latest statistical bulletin. The state also enjoyed a surplus as spending was also down on estimates.

The CBL also reported that inflation was in the negative at minus 2.2 and estimated Real GDP for 2019 will be 49.7 billion LYD, up from 47.1 billion LYD in 2018 ,and 34.9 billion LYD in 2017.

Oil revenues for the period were up by 4.995 billion LYD, from an estimated 26.4 billion LYD to 31.395 billion LYD .

However, revenues from taxes, customs duties, state telecoms entities and other state duties were all down on budget estimates.

Total revenues, excluding the currency surcharge, were up by 2.919 billion LYD from an estimated 31.0 to 33.919 billion LYD .

Russia proposes holding a summet on Libya

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Today, russian President Vladimir Putin proposed holding a summit between the leaders of Russia, China, the United States, France and Britain in 2020 to discuss the conflict in Libya and other global problems.

“There are many responsibilities facing us. We recently discussed one of them in Berlin…That is about Libya. And we need to return to this problem at the Security Council and adopt the corresponding resolution,” he claimed.