The Minister of Economy in the Government of National Unity, Mohammed Al-Huwaij, confirmed that “Libya has a strategic reserve of basic foodstuffs sufficient for at least 3 months,” noting that letters of credit would be opened during the current week.
Al-Huwaij called on traders to adhere to previous prices, stressing the need to price incoming goods at the old price before the dollar exchange rises. He also called on the regulatory authorities to monitor prices and prevent speculation in US dollar.
He directed an appeal to the security units to cooperate with his ministry to control speculators in foreign currency and basic goods. He stressed to all banks and traders to activate their bank credits, ruling out stopping letters of credit and preventing Libyans from importing food and medicine.
The exchange rate of foreign currencies in the parallel market is witnessing noticeable turmoil and a rapid decline in the Libyan dinar’s value, as one dollar reached 8.22 dinars on Sunday.
