First Independent Mena Newspaper
Libya’s central bank devalued the dinar by 14.7%, citing declining oil revenues and mounting economic pressures. The decision followed deliberations at the bank’s first board meeting of 2026, held last week, and was based on recommendations from the Monetary Policy Committee. Following the adjustment, the exchange rate was set at 0.1150 Special Drawing Rights (SDR) […]
Libya’s Office of the Attorney General has confirmed the initiation of public legal proceedings following preliminary findings into the mismanagement of public funds allocated for fuel imports. The investigation uncovered irregular contracting practices, including crude oil barter deals and spot supply contracts that undermined the public interest and breached financial oversight standards. According to the […]
The Chairman of the National Oil Corporation, Masoud Suleiman, has identified the expansion of domestic fuel production as a strategic lever for revitalizing Libya’s economy, warning that ageing refinery designs, obsolete technologies and weak output have widened the gap between local supply and demand. He said Libya’s five basic refineries have a combined capacity of […]
Libya’s Minister of Economy and Trade, Mohammed Al-Huweij, has announced an integrated policy framework aimed at protecting consumers, stabilizing prices and combating currency smuggling, as part of broader efforts to regulate the domestic market. The plan, developed on the instructions of the Prime Minister, also includes the preparation of a guiding import budget to align […]
Libya ranked as the world’s fifth-largest importer of Turkish gold and jewelry over the past year, with imports valued at more than $350 million, according to data released by Turkey’s Anadolu Agency on January 11, 2026. Turkish jewelry exports to Libya reached about $356.2 million, underscoring resilient demand despite Libya’s prolonged economic and political headwinds. […]
Libya’s Head of the Presidential Council, Mohammed Menfi endorsed the National Charter for Reconciliation, marking a strategic milestone in the country’s pursuit of stability and social cohesion. The endorsement was made in Tripoli on Wednesday, in the presence of members of the Supreme Council for Peace and National Reconciliation and representatives of diplomatic missions accredited […]
Libyan demonstrators gathered, on Monday January 5, outside the headquarters of the United Nations Support Mission in Libya (UNSMIL) in Janzour, denouncing what they described as escalating foreign interference in Libyan affairs. Protesters called for respect for Libya’s sovereignty and urged an end to external influence that they say has deepened political instability. Criticism was […]
Libya’s Ministry of Foreign Affairs has convened the first meeting of a high-level preparatory committee to begin arrangements for hosting the fourth Turkey–Africa Partnership Summit. The meeting outlined the overall framework for preparations and underscored the political and diplomatic importance of the summit. Officials described the event as a major milestone in Turkey–Africa relations, providing […]
Libya’s Interior Ministry confirmed, on January 1, the deportation of a group of Bangladeshi nationals through Mitiga International Airport, advancing its national program to repatriate individuals residing in the country without legal status. The ministry said the operation followed the completion of legal procedures and close coordination with relevant authorities. Officials framed the initiative as […]
Libya’s public debt stood at nearly $50 billion in 2024, according to the annual report of the Libyan Audit Bureau, excerpts of which were published by the state-run Libyan News Agency. The report puts total debt at 270 billion Libyan dinars (about $49.8 billion), comprising 84 billion dinars owed by the Tripoli-based Government of National […]