A Central Bank of Libya official confirmed the arrival of a new shipment of cash liquidity from abroad early this Thursday morning. It was transported directly to the central bank’s vaults in preparation for starting the distribution process to banks.
The source explained that the central bank will begin in the coming hours supplying the vaults of commercial bank branches in various Libyan cities with the necessary amounts. This is part of a plan aimed at enhancing cash availability and meeting the needs of citizens.
The official indicated that the bank will continue to receive and send additional shipments of liquidity consecutively, in implementation of the approved program to address and gradually eliminate the liquidity shortage crisis.
Central Bank of Libya
The Central Bank of Libya is the primary monetary authority of Libya, established in 1956 following the country’s independence. It has played a critical and often contentious role in the nation’s economy, particularly during and after the 2011 civil war, when competing governments in the east and west claimed control over separate branches of the institution.
Libya
Libya is a North African country with a rich history rooted in ancient civilizations such as the Phoenicians and Romans, later becoming a center of Arab-Islamic culture. In the modern era, it was an Italian colony before gaining independence in 1951, followed by Muammar Gaddafi’s lengthy rule from 1969 until the 2011 revolution. Its significant cultural sites include the well-preserved Roman ruins of Leptis Magna, a UNESCO World Heritage site.
