Khalid Al-Mishri, who is in dispute over the presidency of the High Council of State, has strongly criticised the Central Bank of Libya’s decision to devalue the national currency, warning it could plunge the country into a deeper financial crisis.
Al-Mishri condemned the move as a “misguided” economic policy. The dinar was devalued by 13.3% last week, bringing the official exchange rate to 5.5677 dinars to the US dollar.
In a statement on Sunday, Al-Mishri said the adjustment would have dire consequences for ordinary citizens already struggling with high costs of living.
“These are flawed policies, detached from sound economic logic,” he said. “They worsen living conditions and risk triggering a catastrophic crisis.”
Al-Mishri called on the CBL and other authorities to adopt more balanced and cautious monetary policies, arguing the issue directly impacts the country’s future.
He attributed Libya’s deeper economic woes to political divisions and the fragmentation of key institutions, rather than the leadership of the Central Bank itself.
“What’s needed is not just a change of governor or board,” the statement read. “The real solution lies in forming a unified government and ending the institutional split that continues to stall progress and threaten economic stability.”
He also warned against what he described as “individual initiatives” by political actors attempting to exploit state resources for personal gain.
“These will fail and lead Libya into further chaos, division, and economic exhaustion,” Al-Mishri said.
The politician urged the immediate convening of a crisis meeting, including the Central Bank governor, to explore swift and viable solutions to mitigate the economic shock.
