Libyan MPs Demand Emergency Session on Dinar Devaluation Decision

Sixty-nine Libyan MPs request an emergency session to discuss the Central Bank’s decision to devalue the dinar. They aim to address alarming financial data, including a sizable budget deficit and increased government spending beyond approved limits, after the Central Bank announced the currency devaluation in response to substantial spending.

On Tuesday and Wednesday, sixty-nine members of Libya’s House of Representatives have requested an emergency session to address the recent decision by the Central Bank to devalue the Libyan dinar. This urgent assembly aims to discuss critical financial issues affecting the nation.

The call for an emergency session underscores the significant concerns regarding Libya’s financial stability, primarily due to the dinar’s devaluation and escalating government expenditures. With over 224 billion Libyan dinars reportedly spent within one year, scrutiny of these economic decisions is imperative, particularly regarding their impact on the nation’s budget and financial health.

Original Source: libyaobserver.ly