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Devaluation of the Libyan dinar and replacement of fuel subsidies

A devaluation of the Libyan dinar and the replacement of fuel subsidies by cash payments to ordinary people were the two main proposals coming out of a seminar on the economy in Tripoli yesterday organised by the Presidency Council’s Government of National Accord. Those attending argued that the moves would go some way to help Libya through its present economic crisis. “Everyone is trying to solve the problem, including the Presidency Council,” Mohamed Raied, the current head of the Union of Chambers of Commerce who is also member of the House of Representatives, told the Libya Herald. The point of having the seminar was to try and find the best Libyan solution to the crisis, he said.

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