Cash availability and cash withdrawal limits to rise within two weeks: CBL officialBy Sami Zaptia. London, 11 January 2021:A member of the Central Bank of Libya’s (CBL) Exchange Rate Adjustment Committee, Misbah Al-Akkari, expects cash availability and withdrawal ceilings to rise in all Libyan banks in the coming days. Premium charge for cash to disappearHe also anticipated that the unofficial premium currently being charged for cash as opposed to cheques, would disappear. This new unified official exchange rate will apply to all governmental, commercial and personal uses of foreign exchange, doing away with the historic multi-exchange rates that had been the subject of much corruption and abuse. Need for reform policies to complement devaluationAkkari also stressed that amending the official LD exchange rate was not enough to solve Libya’s economic problems, but that a set of reform economic policies had to be put in place in parallel with the LD devaluation.

Source: Libya Herald January 11, 2021 19:13 UTC