Libyan Central Bank Denies Allocating 1.5 Billion Dollars for Libyan Families


On Monday, an official source at the Central Bank of Libya (CBL) denied that it had allocated a grant of $1.5 billion for household heads.

Some social media pages circulated news about the central bank allocating $1.5 billion for the disbursement of the household heads’ grant.

Two weeks ago, the CBL governor Al-Siddiq Al-Kabir warned of financial collapse due to the increased general debt of the state.

Al-Kabir said the general debt of the state reached a record high of 270% of Gross Domestic Product (GDP), adding that Libyan oil revenues dropped dramatically from 53.2 billion dollars in 2012 to almost nothing in 2020.