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The Central Bank of Libya has announced it is authorizing the printing of 60 billion Libyan dinars (around USD 11 billion) to help manage cash flow and maintain economic stability. So far, 25 billion dinars have been received and distributed to local banks, with another 14 billion expected by year-end. The remaining 21 billion dinars will be delivered in 2026. The bank has not disclosed which company will print the new currency.
This move follows a previous agreement with British firm De La Rue to print 30 billion dinars, a deal that is now part of the current 60 billion total. In an effort to strengthen the currency, the central bank recently removed 47 billion dinars from circulation—10 billion of which were unofficial and not recognized by the central bank.
Libya continues to struggle with liquidity shortages despite its substantial oil wealth. Unofficial banknotes, some printed by foreign entities and others locally produced without authorization, have worsened the problem by fuelling currency devaluation. The central bank says removing these fake notes has increased pressure on the financial system.
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The country remains politically divided, with rival factions controlling different regions. Nevertheless, Libya is pushing to revive its oil sector and attract foreign investment. Interest from major global energy players like Chevron and TotalEnergies signals potential progress as Libya launches its first oil exploration tender since the 2011 conflict.
