CBL Governor binds cash shortage to absence of security and dim political horizons

CBL Governor binds cash shortage to absence of security and dim political horizons

October 26, 2016 - 21:14
Posted in:
Written By: AbdulkaderAssad

The Governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabeer, has stated that the acute shortage of cash in Libya is tied to the absence of security and stability as well as the entangled political situation.

In a letter he sent to the Head of the UN-installed Presidential Council, Fayez Al-Sirraj, Al-Kabeer denied that the PC had ever put forth any real standpoints or perspectives that would possibly create essential and radical way out of the terrible economic situation in the country.

Reacting to the recent Al-Sirraj’s TV statement, the CBL chief indicated that the CBL rejects even the thought of using Libya’s gold reserves.

Al-Sirraj proposed, in an interview with Libya Al-Rasmiya TV, that Libya could sell a proportion of its gold reserves to solve the ever-haunting cash shortages in the country.

He added that he used up all attempts to talk to the CBL Governor, but the latter showed no willingness to cooperate with the PC’s proposals, accusing Al-Kabeer of being involved in worsening the cash crisis in Libya.