Libya's central bank issued a warning Sunday about money problems caused by the split between two ruling groups. The bank said both sides spend cash separately, which hurts the country's money value. When two groups buy things at once, it is harder to keep the Libyan dinar stable against other money types. This happens because more people want dollars than Libya can provide. The bank shared these facts in papers it released.
Numbers show these two groups spent 224 billion dinars last year, equal to about 46.49 billion dollars. The Tripoli team used 123 billion dinars, or 25.53 billion dollars. The eastern team spent 59 billion dinars, about 12.25 billion dollars. Another 42 billion dinars helped pay for cheaper fuel across Libya. That equals 8.72 billion dollars given to lower gas prices for regular people.
Libya earned much less money than it spent last year. The bank said oil sales plus taxes brought in just 136 billion dinars, around 28.23 billion dollars. This creates a big gap between what came in versus what went out. If both ruling teams keep buying at this speed, Libya will face worse money troubles ahead. The bank fears bigger debts, budget holes, and payment problems with other nations.
Libya broke apart after Muammar Gaddafi lost power in 2011. The nation is still cut in half between the east and west. Each side claims it runs the real government. One team works from Tobruk city with support from the House of Representatives. The other runs things from Tripoli with backing from the Presidency Council. Neither side agrees with how the other spends public cash.
The bank warns that this split makes every money issue worse. When leaders cannot agree, citizens suffer from falling money value. Businesses struggle to plan when rules change based on location. The longer this goes on, the harder fixing Libya becomes. These money warnings matter because they show how political fights directly harm everyday lives through higher prices and fewer services.
Numbers show these two groups spent 224 billion dinars last year, equal to about 46.49 billion dollars. The Tripoli team used 123 billion dinars, or 25.53 billion dollars. The eastern team spent 59 billion dinars, about 12.25 billion dollars. Another 42 billion dinars helped pay for cheaper fuel across Libya. That equals 8.72 billion dollars given to lower gas prices for regular people.
Libya earned much less money than it spent last year. The bank said oil sales plus taxes brought in just 136 billion dinars, around 28.23 billion dollars. This creates a big gap between what came in versus what went out. If both ruling teams keep buying at this speed, Libya will face worse money troubles ahead. The bank fears bigger debts, budget holes, and payment problems with other nations.
Libya broke apart after Muammar Gaddafi lost power in 2011. The nation is still cut in half between the east and west. Each side claims it runs the real government. One team works from Tobruk city with support from the House of Representatives. The other runs things from Tripoli with backing from the Presidency Council. Neither side agrees with how the other spends public cash.
The bank warns that this split makes every money issue worse. When leaders cannot agree, citizens suffer from falling money value. Businesses struggle to plan when rules change based on location. The longer this goes on, the harder fixing Libya becomes. These money warnings matter because they show how political fights directly harm everyday lives through higher prices and fewer services.
