The Presidential Council’s decision to change the Governor of the Central Bank of Libya, appointing a new board of directors, and the rejection of this decision by the House of Representatives and former Governor Sadiq Al-Kabir, led to a rise in the dollar’s exchange rate in the parallel market and its scarcity from commercial banks. After the appointment of a new Governor by the Council, the Central Bank resumed its operations, leading to the Libyan dinar’s appreciation in the parallel market and the availability of dollars from commercial banks.
Proposal Summary The report presents the availability of dollars in banks and the reinstatement of personal-use cards, which allow every citizen to purchase $4,000 annually. The report also highlights the difference between the government’s desire to eliminate the tax on purchasing dollars and the Central Bank’s decision to reduce it to 20%.
When will filming take place and why? Filming will take place after the appointment.
How will the story be shot (Story structure)? Filming starts with a shot of the Central Bank of Libya, followed by general footage of the capital, Tripoli. Then, scenes of essential goods stores and citizens purchasing products will be shown. Interviews with a citizen who booked foreign currency for conversion to dollars, a currency trader, an economist, and a legal expert will follow. There will also be scenes of bank operations and the parallel market for foreign currency exchange.
Suggested interviewees and questions:
Trader
- How much did the prices of essential goods increase after the former Governor’s suspension? Did prices decrease after the dollar’s value dropped?
- What is the estimated percentage of citizens who stopped purchasing goods after the price hike?
Citizen using a personal-use card
- When did you book your dollars, and when did you withdraw them?
Currency Trader
- How did the change in the Central Bank Governor affect the parallel market?
Economic Analyst
- How did the conflict over the management of the Central Bank affect the Libyan economy?
- Why is there disagreement between the government and the Central Bank regarding the continuation or removal of the tax on dollar sales?
Legal Expert
- What is the legal stance on the disagreement between the Central Bank and the government regarding the tax on foreign currency sales, especially after a court ruling on the matter?