H.E Mr. Saddek Omar ElKaber, the Governor of the Central Bank of Libya, held a meeting on Wednesday, 6th of March,2024,in attandance of Mr.Mare Al-Barasi, Deputy Governor. The meeting included discussions with the Chairman and members of the Financial Committee of the House of Representatives, besides some advisors from the Central Bank of Libya.the meeting addressed several topics, including unified Budget Law for 2024 and reviewing the stages of preparing the unified budget law for 2024.
and the Exchange Rate in the Parallel Market.
The discussion also covered the increase in exchange rates in the parallel market and the smuggling of food items and other goods to neighboring countries. Furthermore they explored ways to rationalize spending and mitigate the impact of untraceable currency on national security.
Additionally the Foreign Currency Usage considered various commercial and personal uses of foreign currency, including its application in the public sector proposed Exchange Rate Fee the Central Bank of Libya proposed imposing a fee on exchange rates to regulate the parallel market, and they reached an agreement on the proposed measures.