Salama Al-Ghwail is the former Minister of State for Economic Affairs. He also chairs the Libyan Competition and Anti-Monopoly Council. Al-Ghwail stated the Libyan Dinar is at a critical juncture. This moment tests the state’s resilience. It tests the state more than the currency itself. He indicated that the recent slide in the exchange rate is not a fleeting event. It is a clear warning. It signals the necessity of moving from crisis management. It requires a transition to addressing the crisis fundamentally. Al-Ghwail made these remarks to “Erem News.”
Al-Ghwail acknowledged the “harshness of the situation.” Yet, he believes there is still room to restore balance. This requires a unified national decision. This decision would restore discipline to monetary policy. It would curb speculation. It would link any exchange rate adjustment to real protection of public income. It would also ensure price stability.
Al-Ghwail proposed several steps to counter the Dinar’s decline. Key among these is unifying economic institutions. He also suggested enhancing transparency. Another step is directing resources towards production instead of consumption. He believes these measures can transform the challenge. They can make it a starting point for deeper reform.
Al-Ghwail emphasized that the “Dinar is not merely a number in a price bulletin.” He stated, “It is a symbol of trust.” He stressed that regaining this trust begins with state will. It does not begin with temporary measures.