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Home Middle East

Libya’s PM Rejects Tax on Foreign Exchange

March 18, 2024
UN Mission in Libya to Evaluate Election Laws
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Abdulhamid Dbeibah, head of the Temporary National Unity Government, emphasized the refusal to impose a tax on the exchange rate, warning of its negative effects on Libyan citizens.

This statement came during a breakfast gathering hosted by Dbeibah, attended by Mohammed al-Takala, head of the High Council of State, members of the House of Representatives, the State Council, and the Constitutional Drafting Assembly, as well as political party leaders and other political figures, according to a statement issued by the government that did not specify the number or identities of the attendees.

Last Thursday, Council of Representatives President Counselor Aguila Saleh issued a decision to impose a fee on the official exchange rate of foreign currencies by 27% for all purposes until the end of the current year 2024, sparking a wave of reactions that mostly cautioned against its negative effects and proposed alternatives.

The government’s statement indicated that Dbeibah “refuted rumors about the deterioration of the country’s economic situation and its bankruptcy,” providing figures and statistics on public expenditure over the past three years, including development projects implemented across the country for the first time since the revolution.

It also highlighted the government’s disclosure of its achievements in foreign currency revenues and debt repayment inherited from the previous governments, along with efforts to enhance the country’s foreign exchange needs.

Regarding the meeting, Dbeibah stated that it is part of a series of meetings scheduled during the month of Ramadan with “a number of elites and influencers in the society” to discuss various political issues in order to reach solutions.

The government’s statement emphasized the attendees’ affirmation of the “necessity to swiftly transition through the transitional stages to the permanent stable stage through fair and transparent elections conducted according to fair laws” and emphasized the need to “present the draft constitution for a referendum as a suitable and inclusive solution for all.”

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