Tripoli – An economic affairs observer revealed that the Libyan Central Bank is moving to abolish the tax imposed on the US dollar at the beginning of 2026, confirming that the bank still possesses important tools that enable it to regain the initiative in managing monetary policies.
It was clarified that this anticipated step reflects a new dynamism in the Central Bank’s operations, indicating that the financial institution has not lost its ability to maneuver and still holds effective cards that can be played to restore balance to the market.
It is expected that January 2026 will witness significant economic moves from the Central Bank, which may contribute to readjusting the financial landscape and catching a breath again, amidst the challenges facing the Libyan economy.
Tripoli
Tripoli is the capital and largest city of Libya, with a history dating back to the 7th century BC when it was founded by the Phoenicians. It later became a significant part of the Roman Empire, the Ottoman Empire, and an Italian colony, which is reflected in its diverse architecture, such as the historic Medina and Red Castle.
Libyan Central Bank
The Central Bank of Libya, established in 1956, serves as the country’s primary monetary authority and issuer of currency. Its history has been deeply affected by political divisions following the 2011 civil war, leading to parallel administrations and a prolonged struggle for control over the nation’s financial resources.
US dollar
The US dollar is the official currency of the United States, established by the Coinage Act of 1792. It evolved from a system based on Spanish milled dollars and became the world’s primary reserve currency following the Bretton Woods Agreement in 1944.
