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Central Bank Denies Imminent Disbursement of Heads of Households Project

August 31, 2020
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Salem Al-Siwi, the manager of the Heads of Households project at the Central Bank of Libya (CBL), denied rumours regarding the imminent disbursement of the project’s grant by the CBL

In statements to Libya Al-Ahrar, Al-Siwi pointed out that until now, no decision has been taken regarding the project’s resumption, including the second part of the project’s grant for last year (2019) and this year (2020).

The project manager stated that any action taken in this regard will be published by the CBL. It will also be generalized by the Foreign Exchange Supervision Department of the Central Bank, and other commercial banks.

In late July, Al-Siwi confirmed that the issue was due to the closure of oil facilities and ports, since January. He pointed out that this has negatively affected foreign exchange and banks’ liquidity in the country. Libya’s losses are mainly due to the shutdown of the oil sector which has now amounted to more than $9 billion USD of lost revenues.

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