The Ministry of Finance of the Government of National Unity attributed the current crisis of liquidity scarcity in the country’s banks to parallel spending and the continued printing of counterfeit currency.
The Ministry added in a statement in response to the Central Bank’s report on revenues and spending during the year 2024, that failure to stop dealing in counterfeit currency weakened confidence in banks, prompting citizens to refrain from depositing their savings.
According to the Ministry, some of the credits implemented by the banks were covered through parallel spending, “which made the value of the liquidity disproportionate to the volume of foreign exchange sold by the banks”.
The Ministry claimed what was stated in the Central Bank’s report regarding zero telecommunications revenues lacked clarification “as they are resources collected at the end of the year,” and not monthly.
