Local News: Economic News
Al-Kabir discusses the economic situation with members of the Economic Committee of the High Council of State.
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Tripoli, April 3, 2024 (ALA) - Governor of the Central Bank of Libya, “Al-Siddiq Al-Kabir,” discussed with members of the Economic Committee of the High Council of State the economic conditions and procedures for temporarily imposing a fee on foreign exchange sales, and the effects of the counterfeit currency of 50 dinars of unknown origin on the economy. The Central Bank of Libya stated in a publication today, Wednesday, that the meeting, which was attended by the Director of the Bank’s Research and Statistics... Read more
OPEC Secretary General: The world needs oil for years and decades to come, and the door is still open for Angola’s return
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London, March 30, 2024 (LANA) - The Secretary-General of the Organization of the Petroleum Exporting Countries, Haitham Al-Ghais, said that the world needs oil and that this need will continue for many years and decades. OPEC plays a prominent role in supporting and stabilizing oil markets, and that many relevant parties in the energy and oil industry are aware of this role.Al-Ghais indicated in an interview with the Independent Arabia newspaper that the door is still open for Angola to return to the OPEC family, which decided... Read more
LCB calls on commercial banks to activate all services related to purchasing foreign exchange.
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Tripoli, March 29, 2024 (LANA) - In a letter addressed to directors of commercial banks, the Central Bank of Libya called for activating all services and products related to purchasing foreign exchange for the purposes of study and treatment abroad, and issuing visa-mastercard to companies, small merchants, and artisans.In its letter, the bank referred to Circular No. (10/2023) regarding allowing operating banks to issue and charge (VS-MasterCard) cards for the purpose of financing the... Read more
People of Misrata: We hold all political bodies responsible for the deteriorating economic conditions in the country.
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Misrata, March 20, 2024 (LANA) - Dozens of demonstrators gathered in front of the Martyrs’ Hall in the city of Misrata, on Tuesday evening, to protest the economic crisis the country is going through, and to denounce the decision to impose a tax on the selling price of foreign exchange. In a statement they issued, the demonstrators expressed their denunciation of the confusion in monetary and economic policies, the lack of single decisions for the Libyan state, the political conflict in all parts of the... Read more
OPEC: Libya records the largest increase in oil production on a monthly basis.
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Tripoli, March 15, 2024 (LANA) - OPEC said, that Libyan oil production recorded the largest increase in production on a monthly level in Africa, surpassing Nigeria, the largest producer on the continent.According to a report published by the organization, Libya’s production rose on a monthly basis to 1,167 barrels of oil per day in February, compared to 1,023 million barrels per day last January, with a daily increase estimated at 144 thousand. ... Read more
