Al-Hebri blames Al-Kabeer for deteriorated economy, accuses him of masterminding cash crisis

Al-Hebri blames Al-Kabeer for deteriorated economy, accuses him of masterminding cash crisis

March 05, 2017 - 19:59
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Written By: AbdulkaderAssad

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The Governor of the parallel Central Bank of Libya (CBL) in Al-Bayda, Ali Al-Hebri blamed the Tripoli-based CBL's Governor, Al-Seddiq Al-Kabeer, for the deterioration of financial and economic situations in Libya, holding him accountable for the cash shortage dilemma and the rocketing of foreign currencies' prices.

On TV Thursday, Al-Hebri accused Al-Kabeer of being the mastermind of the soaring prices of the US dollar against the dinar as well as loss of cash as he is following a failed financial policy, urging him to a live TV debate in the presence of economists to discuss the issues in public.

"If you could convince people about the success of your financial policy, I would resign, if otherwise, you should resign right off the bat." He said directing the words at Al-Kabeer.

He added that all bank branches in eastern Libya did not have their shares from the foreign currency except for Al-Jumhouriya Bank, saying the Chairman of Al-Jumhouriya Bank, Musbah Al-Ekkari, is being "fought" by Al-Kabeer after the main administration had transferred the foreign currency share of the eastern branch.

"Al-Kabeer is still working by the policy of fait accompli under the protection of militias and the flagrant US-UK support as he continues to be told what to do from overseas." Al-Hebri added, saying the Tobruk-based House of Representatives must take a stand about this mess, as he described it.

The HoR sacked Al-Kabeer in 2014 and appointed Al-Hebri as the Governor of the parallel CBL based in Al-Bayda in a step that was the cornerstone in splitting Libya into halves or even thirds and led to conflicting decisions regarding financial policies, thus badly affecting the living standards of Libyans.