Tripoli: The Central Bank of Libya announced on Sunday that it has contracted to print 30 billion dinars, which are set to be injected into the banking sector as a measure to address the ongoing cash shortage crisis. This significant financial move aims to replace the currency that is expected to be withdrawn smoothly, following a previously established timetable. According to Libyan News Agency, the Governor of the Central Bank of Libya, Naji Issa, conducted a series of meetings on Sunday to evaluate the bank's strategy for resolving the cash shortage issue. The governor's meetings emphasized the implementation of a comprehensive plan designed by the Central Bank of Libya to tackle this problem effectively, with a phased and radical solution scheduled to begin in January 2025. The governor has instructed the directors of relevant departments within the Central Bank of Libya, along with the liquidity team and general managers of banks, to take charge of this initiative in accordance with the plan approved b y the Board of Directors. The strategy not only focuses on alleviating the cash shortage but also on enhancing bank infrastructure and expanding electronic payment services, as outlined in the prepared plan.
