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FinancialNews
12-02-20
January hits Libya's economy with zero revenues: Central Bank
(MENAFN)
Based on central bank statement issued on Monday, the blockage of oilfields in the eastern Libya by the tribal chiefs affiliated to eastern commander Khalifa Haftar has beaten the profits of Libya's essential oil in January.
Since April, Haftar has engaged its militia within clashes with the officially known Tripoli-based government as trial to invade the country's capital city.
Libya, which has been indulged in chaos since Muammar Gaddafi was downfallen in 2011, is now surviving the disastrous outcomes of January's oilfields shutdown by Hafter-allied tribal chiefs in the eastern regions of the state.
Through a post on its official Facebook page, the central bank based on Tripoli announced more than USD 1.78 billion-worth losses as a result of the oil ports closure.
No salaries have been paid to the public in January, the bank said.
The central bank allocates some public salaries to people in the Haftar-hold eastern Lybia, although it functions chiefly with the government of Tripoli.
The bank added that a cost on hard currency contracts revived the economy with 2.319bn dinars.
MENAFN1202202000450000ID1099693116
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