Libya has reserves of foodstuffs enough for 3 months

On September 23, Mohammed Al-Huwaij, the Minister of Economy in the Government of National Unity, assured the public that Libya maintains a strategic reserve of essential food supplies sufficient for at least three months. He also announced that letters of credit would be opened within the week to facilitate the import of these goods.
Al-Huwaij urged traders to adhere to previous price levels, particularly for goods that were imported before the recent spike in the US dollar exchange rate. He emphasized the importance of pricing goods at the older, lower rates to avoid unjustified inflation. Regulatory authorities were called upon to actively monitor the market, curb price speculation, and prevent exploitation of the fluctuating exchange rate.
Additionally, the minister appealed to security units to collaborate with his ministry in cracking down on speculators manipulating foreign currency and basic goods prices. He stressed that banks and traders should swiftly activate their bank credits to ensure the smooth importation of essential items. Al-Huwaij dismissed any rumors about halting letters of credit or restricting Libyans from importing food and medicine, reinforcing the government’s commitment to maintaining supply chains.
The announcement comes as the Libyan dinar faces a significant drop in value on the parallel market, where the US dollar reached 8.22 dinars on Sunday. The rapid devaluation has raised concerns about inflation and the cost of living, intensifying the need for government intervention to stabilize prices and ensure the availability of basic goods.