The latest updates on December salaries have been revealed, explaining that the budget administration indicated that the payroll is in its final stages and almost ready for disbursement before the end of the month.
It was confirmed that the Central Bank of Libya is ready to disburse the funds as soon as the salary coverage from the National Oil Corporation is completed. It was noted that $700 million has already been transferred so far, with the remaining required amount awaited to ensure salary payments and inject sufficient liquidity into the banks.
Central Bank of Libya
The Central Bank of Libya is the primary monetary authority of Libya, established in 1956 to issue currency and manage the country’s financial reserves. Its history has been deeply affected by political conflict since 2011, with rival administrations in Tripoli and Benghazi both claiming control over the institution and its critical assets.
National Oil Corporation
The National Oil Corporation (NOC) is the state-owned oil company of Libya, established in 1970 to manage the country’s hydrocarbon resources. It oversees all aspects of Libya’s oil and gas industry, from exploration to export, and has been a central entity in the nation’s economy and political landscape since its founding.
