The Head of the Media Bureau in the Central Bank of Libya, Essam Al-Oul, has disclosed that the amount of money circulating outside the banking sector is more than LYD24 billion, all of which owned by businesspersons.

“If those businesspersons returned 10% of the 24 billion to the banks, the lack of liquidity crisis will come to an end.” Al-Oul said.

Explaining the reasons behind the liquidity crisis, Al-Oul told the press that political division tops the list and it is followed by the closure of oil fields, wars and armed clashes, and the fragmentation of state revenue leading to a historical deficit in the general budget.

“The deterioration of security in some of the cities as well as the administrative division, have led to many problems in a variety of sectors, and it’s really astounding how some parties consider the current crisis as a fake financial issue invented by the Central Bank of Libya.” He concluded.