During a televised interview for Libyan WTV channel and Tabadul Platform, the Libyan Finance Minister of the Government of National Accord, Faraj Bumatari, accused the Central bank of Libya of insisting on creating a gap between the official exchange rate and the black market exchange rate.
“The government was forced to violate the commercial law … this unjustified violation came as a result of a monetary policy that was not successful in leveraging its role.” Boumtari stressed .
He added that he has been communicating with the Central in many correspondence without getting Reply
Bumtari added that he addressed numerous correspondences with the Central Bank, but to no avail. ” we’ve hit a dead end, I could not find a solution.” He stressed, adding that it is time to fight this corrupt system.
According to the minister, the Central Bank should be placed under pressure – and not the government- in order to activate its banking instruments.
“We have discovered fake customs papers that claimed to supply household items while the shipment included tramadol.” Bumtari said, adding that the medical bill shrank from 185m to 29m after holding the ministerial portfolio.
Bumtari accused certain groups that are close to the Central Bank of tampering with the bills of medical treatment abroad, confirming that the Libyan market includes a parallel market, smuggling operations and several defects that hinder the removal of subsidies.
According to the minister, the Central Bank did not adhere to the economic reform plan in Libya.