By Libya Herald reporters.
Tripoli, 22 April 2017:
A further consignment of new bank notes arrived in Tripoli yesterday.
The shipment of LD350 million was sent from the UK to Mitiga airport. It follows four deliveries in February, the last of which contained bills worth LD250 million.
The Central Bank of Libya (CBL) never revealed the full amount that was sent that month and for security reasons keeps the details of each new arrival secret until it has been transferred to its vaults.
It has said that all previous shipments of cash were designed to ease the liquidity shortage in the banking system and would be distributed fairly throughout the country. Nevertheless, queues still persist at banks and there seems no end to the dearth of bank notes.
Though some of the newly-printed money will replace worn and damaged bills and in February the Thinni government called in all Qaddafi-era Series 6 five and ten dinar notes, there is a clear danger that expanding the quantity of dinar will continue to depress the dinar’s value against the dollar and euro.