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Tripoli, 1 March 2016(Lana) The National Salvation Government has proposed a set of measures to fight money hoarding and monetary leakage that harmed the national economy by replacing the 20 and 50 notes with 5 and 10 notes. In a letter to the CBoL dated 29 February 2016, the government asked the bank to replace the old 5 and 10 dinars issued during the former regime and expanded use of the 100 and 50 dirham to combat inflation. According to the government letter, the proposal came due to availability of large quantities of local currency that accedes the need of the economy and caused economic malformation due to increased supply negatively impacting prices, and availability of 50 and 20 bank notes which disappeared due to its use for hoarding.
Source: Libya News Agency