Former parallel CBL governor voices rejection to economic reforms presented by Tripoli-based CBL

Former parallel CBL governor voices rejection to economic reforms presented by Tripoli-based CBL

June 10, 2018 - 12:49
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Written By: SafaAlharathy

Ali Al-Habri

The former governor of the parallel Central Bank of Libya in the east region, Ali Al-Habri, said Saturday that there is no alternative to solving the economic crisis in Libya other than changing the exchange rate, insisting that the reforms presented by Al-Siddik Al-Kabir, are usually carried out by bankrupt states.

Al-Habri expressed his objection to the three points submitted by the Governor of the Central Bank of Libya, Al-Siddik Al-Kabir.

"The lifting of subsidies on fuel, and charging fees on selling foreign currency will not solve the economic crisis, but instead, it will give negative results and will adversely affect the lives of citizens," Al-Habri explained, adding that the central bank is being run with an individual manner more than an institutional way.

He warned that this will limit its terms of reference, the most important of which is the management of monetary policy and the exchange rate, by granting them to the Presidential Council and its Ministry of Finance, which as he said, "is totally unacceptable".