CBL: No oil revenues for January 2020

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CBL: No oil revenues for January 2020

February 11, 2020 - 11:44
Written by: SafaAlharathy

The Central Bank of Libya (CBL) reported Monday that Libya had earnt no oil revenues in January 2020, due to the closure of oil facilities.

CBL warned in a statement that ceasing oil production and export in 2020 had resulted in direct losses of over 2.5 billion dinars.

Other sovereign revenues amounted to 111 million dinars, according to the bank.

CBL reiterated that oil operations must be restored immediately. "Continued closure of the only source of state revenues poses a threat at the economic, financial and political level," the bank added.