Al-Shahumi criticises dollarisation proposal for Libya
LIBYA – Suleiman Al-Shahumi, former director of the Libyan Stock Market, warned against proposals to use the US dollar as the official national currency in place of the Libyan dinar as a solution to heavy demand for foreign currency, amid what he described as rapidly spreading corruption.
Questions over the Central Bank’s role
In a post on his Facebook page, Al-Shahumi likened officially adopting the dollar in the current circumstances to “adding fuel to the fire”. He asked how the Central Bank of Libya would act in that case and whether it would start again from scratch in managing the monetary system.
