By Libya Herald reporters.
Tripoli, 18 November 2016:
A further consignment of freshly-printed bank notes arrived this evening at Mitiga airport from the UK. The Central Bank of Libya did not say how much had been sent out of a total order for some LD1 billion of fresh notes.
Last month a plane arrived from London carrying LD400 million which the CBL said would be distributed throughout the country. On Tuesday the Bank confirmed that it had delivered some of this cash to Bani Walid and to the once-rival Beida-based Central Bank, with which it is now cooperating.
The CBL said this evening that the new money would likewise be sent out all over the country. However in major cities access to currency from banks remains a serious problem, despite the liquidity injection of the new bank notes.
With the black market dollar around LD5.25 as opposed to the official LD1.40 rate, there are predictions that the new cash will further undermine the dinar’s value and give an extra kick to inflation.
