On 24 July, Reuters published a report by Maya Gebeily and Angus Mcdowall titled ‘Illicit banknotes in east Libya, some made by Russia, hit dinar’. Citing several sources, the report claims that unofficial Libyan banknotes - including some printed by Russia and others within Libya - have been exchanged for real dollars and contributed to the dinar's devaluing. The sources claim that Tripoli’s Central Bank of Libya (CBL) has described the new banknotes as counterfeit, yet they are being changed into hard currency on the black market or through local banks, with some of it being used to fund infrastructure projects in the flood-affected east or to finance Russian mercenary activity in Libya and the Sahel.
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