São Paulo – The Central Bank of Libya announced on Thursday (9) that it injected LYD 2 billion (equivalent to USD 366.7 million) into the financial system through the distribution of cash to bank branches and ATMs. The goal, according to information released by the Libyan News Agency (Lana), is to ensure liquidity and currency availability.
Of the total, LYD 600 million (USD 110 million) were allocated to the eastern region of the country and issued by the Benghazi Issuance Department. The remaining LYD 1.4 billion (USD 256.7 million) were distributed among other regions. A new issuance by the Central Bank is expected to send an additional LYD 300 million (USD 55 million) to cities in the East, while LYD 700 million (USD 128.3 million) will be directed to municipalities in western and southern Libya, all destined for commercial bank branches.
This is, according to the Central Bank, the first stage of a plan aimed at ensuring the availability of cash in Libyan commercial banks. Even so, the monetary authority encouraged the public to use electronic payment tools, as they are secure and effective for financial transactions.
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Translated by Guilherme Miranda
