Libya's central bank has devalued the dinar by 14.7%, setting the official exchange rate to about 6.3 to the US Dollar, marking the currency's second adjustment in less than a year. In a statement, the bank says the move reflects the adverse impact of continued political divisions, declining oil revenues amid lower global oil prices, and ongoing economic pressures.

These challenges include the absence of a unified national budget and escalating public spending, which have strained the country's financial stability.

Thami Ngubeni spoke to Dr Tafadzwa Ruzive, a Post-doctoral researcher at the University of Free State Office of International Affairs

Libya's central bank has devalued the dinar by 14.7%, setting the official exchange rate to about 6.3 to the US Dollar, marking the currency's second adjustment in less than a year. In a statement, the bank says the move reflects the adverse impact of continued political divisions, declining oil revenues amid lower global oil prices, and ongoing economic pressures.
These challenges include the absence of a unified national budget and escalating public spending, which have strained the country's financial stability.
Thami Ngubeni spoke to Dr Tafadzwa Ruzive, a Post-doctoral researcher at the University of Free State Office of International Affairs

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.