The Deputy Governor of the Central Bank of Libya, Ali Al-Hibri, stated that 50% of the cash reserve has been spent since 2011 due to wars, political conflicts and the government deficit in the general budget.
The Social Security Fund has criticized an amended law issued by the House of Representatives, which it says “threatens the fate of the Fund and will drag it into bankruptcy.”
The President of the Presidential Council (PC), Mohammed al-Menfi, discussed Sunday with the Governor of the Central Bank of Libya (CBL), al-Siddiq al-Kabir, the latest developments of the unification of the monetary authority in Libya.
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Deputy Governor of the Central Bank of Libya (CBL), Ali Al-Hibri, has accused “the current political class” in Libya of not showing any interest in the future of the country’s economy.
The European Union’s Ambassador to Libya, Sabadell Jose, met on Wednesday with Labor Minister Ali Abed Reda in Tripoli where they discussed supporting efforts to create jobs in the country.
The Belgian judiciary wants the chairman of Libya’s sovereign wealth fund arrested on charges of corruption and embezzlement, Belgian magazine De Tijd reported.
The Central Bank of Libya (CBL) has published the government expenditures for 2021, which amounted to $24.5 billion (85.8 billion Libyan dinars), contradicting with the numbers published by the Government of National Unity (GNU), headed by Abdul Hamid Dbeibeh.
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Libya’s spending was 84 billion dinars ($18 billion) in 2021 and there was no fiscal deficit, the spokesperson for the transitional Government of National Unity, Mohamed Hamuda, told a news conference on Thursday.