The Central Bank of Libya reported that the value of oil revenues transferred to it from the beginning of December until December 21st amounted to only about 581 million dollars.
The bank confirmed that despite the noticeable decrease in the value of revenues transferred during the current month, it continues to carry out foreign currency sales operations regularly and at rates that meet the needs of the local market and contribute to maintaining monetary stability and providing the requirements for economic activity, according to its statement.
The Central Bank had announced at the beginning of December that the state’s oil revenues from the beginning of the year until the end of November reached 20.7 billion dollars.
Central Bank of Libya
The Central Bank of Libya is the country’s primary monetary authority, established in 1956 to issue currency and manage monetary policy. It has played a critical and often divisive role in Libya’s recent history, notably functioning as a unified financial institution during the post-2011 civil war period despite the country’s political fragmentation.
Libya
Libya is a North African country with a rich history rooted in ancient civilizations like the Phoenicians and Romans, followed by centuries of Arab and Ottoman influence. In the modern era, it was an Italian colony before gaining independence in 1951, later becoming known for Muammar Gaddafi’s lengthy rule from 1969 until the 2011 revolution. Today, it remains a nation of significant archaeological sites and cultural heritage, though it faces ongoing political instability.
