Bashagha urges CBL to change current exchange rates of Libyan dinar

Bashagha urges CBL to change current exchange rates of Libyan dinar

August 16, 2022 - 21:18
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Written By: AbdulkaderAssad

The Prime Minister designated by the House of Representatives (HoR) Fathi Bashagha has called on the Central Bank of Libya (CBL) to change the current exchange rate of the Libyan dinar so the purchasing capability of the citizens can increase, telling the Governor and the board of CBL in a letter that they need to change the exchange rates.

Bashagha indicated that his government is ready to work with the CBL to strengthen national economy, financial and monetary stability, and improve the quality of life for all Libyans.

He added that his government promises to take all measures necessary to reduce inflation in a way that doesn't affect people, and in accordance with the CBL's policy regarding changing the exchange rate of the Libyan dinar.

Bashagha, who was appointed as Prime Minister by the HoR to replace the Prime Minister of the Government of National Unity, did not officially assume his duties and was unable to enter government headquarters in Tripoli. Also, the CBL did not approve or liquidate the budget approved by the HoR for Bashagha's government, while state sovereign institutions in Tripoli such as the CBL had not started considering him a Prime Minister yet.