The Central Bank of Libya announced that the public debt recorded in its books has been extinguished and has become “zero,” indicating that the necessary book entries have been taken in this regard.
This came in its monthly statement of revenue and expenditure, which covers the period from January 1, 2024 to August 31, 2024.
The bank stressed its continued efforts to achieve the highest levels of disclosure, transparency and accountability in all its operations, and noted that this step comes as a continuation of the new management’s efforts to develop direct and effective communication channels to achieve its main objectives related to monetary and financial stability.
The statement indicated that the value of revenues amounted to 66.7 billion dinars and public spending amounted to 59.6 billion dinars.
The Central Bank indicated that there are other oil revenues still in the National Oil Corporation’s account at the external bank that will be deposited later.
The statement explained that foreign exchange revenues amounted to $13.5 billion, while the actual uses of foreign exchange amounted to $16.2 billion, with a deficit of only $2.7 billion.
The statement confirmed that the bank’s previous management stated in a statement last month that it had spent $950 million from the bank’s reserves abroad, and that no disbursement or transfer orders had been found.
The Central Bank pointed out that the total outstanding obligations in foreign currency until the end of August amounted to 6.12 billion dollars, including documentary credits in foreign currency, development project contracts, and obligations of the National Oil Corporation and the Electricity Company.
Revenues collected from the fee imposed on foreign currency sales during the same period amounted to 15.1 billion dinars.
The Central Bank issues its monthly statement on public revenue and expenditure:
Last updated: September 13, 2024 – 21:14
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2024-09-15 10:34:30