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CBL is unable to end Libya’s cash liquidity crisis, financial experts say

The Address | Benghazi – Libya

Financial experts said that the Central Bank of Libya (CBL) is unable to end the liquidity crisis suffered by Libyan citizens since 2014.

Until now, all the attempts made by CBL to continuously provide cash liquidity to banks have not succeeded, as citizens still complain that cash liquidity is not available.

More than 5 months have now passed since the implementation of the CBL economic reforms, and contrary to what was expected, the liquidity crisis has not been resolved. Withdrawals limit in most if not all branches of banks remain in the range of 500 Libyan dinars or below.

Financial experts believe that CBL has failed to attract funds circulating outside the banks, which are expected to exceed more than 42 billion dinars. This amount can solve the problem of liquidity if part of it is deposited in the branches of banks, experts confirmed.

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