Statement of the Monetary Policy Committee on January 14, 2025
On Tuesday, January 14, 2025, the Monetary Policy Committee held its first meeting, headed by H.E. the Governor and Deputy Governor, and attended by committee members at the headquarters of the Central Bank of Libya – Tripoli, where the committee reviewed the general economic and financial situation of the country, evaluated the efficiency of monetary policy, and observed the development of the Libyan dinar exchange rate in light of economic data and developments, and the expansionary public spending policy of the two governments for the year 2024. The committee discussed expectations of economic activity (local and global), and forecasts of crude oil production and prices. In addition to reviewing the analysis of financial soundness indicators, the development of the volume of foreign exchange usage, revenues, and expenditures, and comparing statistics for the previous three years.
The committee concluded the need to coordinate between economic policies (monetary, financial, and commercial), and to begin activating the tools that enable the Central Bank of Libya to achieve its goals in response to all circumstances. To emphasize the importance of expediting the approval of a unified balanced budget for the year 2025, as well as the necessity of periodically transferring oil revenues to the Central Bank of Libya, enhancing the principles of transparency and disclosure, emphasizing the independence of the Central Bank and ensuring the professionalism of its decisions in everything related to exchange rate policy and monetary policy, in order to achieve monetary stability and international financial sustainability.
Statement of the Monetary Policy Committee on March 28, 2012
On Tuesday, March 27, 2012, the Monetary Policy Committee of the Central Bank of Libya held its second regular meeting of 2012 under the chaired by the Governor, with the full attendance of its members. After reviewing both local and international economic developments and the forecasted changes at local and international levels for the upcoming period, the committee adopted the following decisions:
- Rediscount Rate: Remain at the current level of 3%.
- Interest Rate on 91-Day Deposit Certificates: Remain at the current level of 1.0%.
- Interest Rate on 28-Day Deposit Certificates: Remain at the current level of 0.85%.
- Interest Rate on One-Night Facility: Remain at 0.25%.
- Required Reserve Ratio: Remain at the current rate of 20%.
- Liquidity Ratio: Remain at the current level of 25%.