Economic expert Suleiman al-Shuhoumi criticized the decision to set cash withdrawal limits from banks after the Central Bank of Libya withdrew currency issues from circulation.
In a post on his Facebook account, al-Shuhoumi considered that these measures do not reflect a genuine monetary policy, nor do they fall under the monetary policy tools that central banks typically use in managing the economy.
The economic expert explained that these measures are considered “outdated tactics” that do not contribute to building confidence.
He stressed that the priority for the Central Bank of Libya should be to focus on rebuilding and restoring the lost confidence in the banking system, instead of resorting to temporary solutions that do not address the roots of the crisis.