Wednesday, 22 October 2014

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Libyan government denies withdrawing US$7bn foreign reserves

The Libyan Government has denied reports that it has withdrawn US$7 billion from its foreign currency reserves.

It has also denied taking a loan from the World Bank to finance its budget deficit caused by the fall in oil receipts.

A communiqué published by the Finance Ministry on Friday night described the reports as "false" and called upon the media to adopt a professional approach while delivering their job.

Some media houses have attributed these reports to the Deputy Governor of the Libyan Central Bank who has since denied making such a statement.

According to the communiqué, "The government has not withdrawn any money from its reserve funds for the past three months despite the fall in oil receipts estimated at about US$3 billion.”


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