The United Nations has urged Libyan authorities to implement immediate measures to mitigate the effects of the recent devaluation of the Libyan dinar.
In a statement on Wednesday, the UN mission in Libya expressed concern over rising living costs and falling purchasing power, following the Central Bank’s decision to lower the currency’s value.
The mission warned of mounting economic instability, citing a growing foreign exchange deficit, excessive cash in circulation, dual government spending, and continued currency decline.
It also pointed to a broader erosion of public trust in state institutions, calling on all political actors to prioritise national interest and end the cycle of mutual accusations.
The mission emphasizd that urgent consensus on a unified national budget is critical to restoring stability.
The mission further called for protection of Libya’s oversight institutions, which it says face growing threats from political interference and security restrictions.
Without political resolution and the formation of a unified government, the mission warned, economic progress will remain fragile and the country’s stability will be at risk from renewed cycles of division and disruption.
