The American Ambassador to Libya, Richard Norland, disclosed on Tuesday that he had agreed during his meeting with the Governor of the Central Bank of Libya, Sadik Elkaber, that Libya needs a unified budget to enhance transparency and accountability in public spending and to assist the central bank in protecting the value of the dinar from further deterioration in the parallel market.
Ambassador Norland added that the adoption of a unified budget would help the Central Bank of Libya protect the value of the Libyan dinar from further deterioration in the parallel market, especially in light of reports indicating that counterfeit currency imported is being used to purchase dollars and euros. He emphasized that Libyans must know how their country’s wealth is being spent.