CBL accuses high-level state officials in Libya of causing economic crisis

CBL accuses high-level state officials in Libya of causing economic crisis

April 18, 2018 - 22:39
Posted in:
Written By: AbdulkaderAssad

Central Bank of Libya (CBL) said several Libyan high-level state officials are responsible for the economic crisis in the country, accusing them of plunging the Libyan economy into more deterioration and profiting off Libyans' needs, not to mention putting pressure on the CBL to defame it in public.

"The CBL as the economic advisor to Libya's state will keep working on solving the shortages of basic commodities and the high prices," it said in a statement, adding that providing the necessary goods in affordable prices to Libyans is the duty of the CBL.

The CBL's statement adds that it has taken necessary actions to resolve the lack of commodities and the rocking prices' issue in coordination with the Head of the Presidential Council (PC), Fayez Al-Sirraj.

"The high prices are not justifiable and are aimed at plunging the citizens into more suffering with the advent of Ramadan." The statement reads.

The CBL explained that bit agreed to cover letters of credits based on approval from the Ministry of Economy between January 01, 2018 and present time, indicating that the amount of requests reached so far 3414 worth 3 billion dollars, adding that there is no specific time for the arrival of commodities.

"The CBL responded positively to the PC's decision to import the basic commodities into the country in documentary credits, yet the Audit Bureau's Head has stepped out of the lines of his authority and ordered freezing the PC's decision, thus making the situation on the ground more difficult." CBL's statement reads.