Latest from Libyan Express
Libyan Express
3 hours ago
- Business
- Libyan Express
Tunisia calls for stronger ties with Libya and Algeria
Tunisia eyes Libya reconstruction as investment opportunity Tunisian lawmakers have called for a more proactive governmental role in supporting Libya's reconstruction efforts and revitalising free trade zones, highlighting the need to enhance Tunisia's diplomatic initiatives in the region. During a recent consultative session with officials from Tunisia's Ministry of Foreign Affairs, members of parliament stressed the importance of reinvigorating economic cooperation not only with Libya but also with neighbouring Algeria, according to an official parliamentary statement. The MPs underscored the strategic significance of activating free trade zones and advocated for a strengthened role of the Arab Parliament in facilitating coordinated regional action. Discussions also focused on Tunisia's commitment to supporting Libya's ongoing political reconciliation process, alongside efforts to boost Maghreb integration and bilateral ties with Algeria. Libya's extensive reconstruction needs—estimated by Tunisia's Export Promotion Center to reach as high as $570 billion—represent considerable investment opportunities for Tunisian companies, particularly in construction, infrastructure, and industrial equipment sectors. As Tunisia's foremost trading partner across the Arab world and Africa, Libya accounts for a substantial share of Tunisian exports, with industrial goods constituting approximately 40% of shipments. Meanwhile, Tunisia imports primarily energy resources, iron, and steel from Libya. Despite this robust trade relationship, the stalled development of the Bengardane Free Trade Zone on the Tunisia-Libya border has hampered economic exchanges. Nearly 12 years after its announcement, progress remains limited to preliminary land development and technical assessments, while other regional actors expand their commercial footprint amid shifting geopolitical dynamics. Tunisian lawmakers' renewed calls highlight the urgency of accelerating regional economic integration and capitalising on Libya's reconstruction as a catalyst for broader Maghreb cooperation. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
Libyan Express
3 hours ago
- Libyan Express
Mauritania detains 20 migrants headed for Spain
Copy Link Authorities in the Mauritanian city of Nouadhibou have detained twenty irregular migrants of various foreign nationalities who were reportedly preparing to travel to the Spanish coast. A statement issued by the Mauritanian gendarmerie on Thursday confirmed that three of those detained were women, including two minors. The statement did not provide details about their nationalities. The gendarmerie also arrested an individual described as a key associate of the main organiser of the operation, who is reportedly a foreign national. This action is part of ongoing efforts by Mauritanian security forces to address irregular migration and dismantle related criminal networks.
Libyan Express
12 hours ago
- Business
- Libyan Express
Watchdog moves against financial crimes chief
BY Libyan Express Jun 20, 2025 - 05:20 Libya's Administrative Control Authority Libya's Administrative Control Authority has suspended the head of the Financial Crimes and Anti-Money Laundering Agency, Jamal Omar Al-Mazoughi, as part of a precautionary measure linked to an internal oversight report. The decision, issued by Authority Chairman Abdullah Qaderbuh under Resolution No. 336 of 2025 , follows a review conducted by the General Directorate for Oversight of the Prime Minister's Office. The Authority said the move was made in the public interest. In a statement published on its official Facebook page, the Authority said the suspension was taken 'in accordance with the requirements of public interest,' citing Article 31 of Law No. 20 of 2013, which governs the body's mandate, as amended. No further details were provided regarding the nature of the oversight findings or whether formal charges are expected. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
Libyan Express
12 hours ago
- Business
- Libyan Express
Libya's currency withdrawal set to impact parallel market, analyst warns
Saber Al-Wahsh The Central Bank of Libya's recent decision to withdraw certain currency denominations from circulation is anticipated to affect the parallel exchange market and liquidity conditions, according to economic analyst Saber Al-Wahsh . Al-Wahsh explained that the withdrawal forms part of broader efforts by the Central Bank to rectify economic imbalances and institutional challenges that have persisted due to years of division within the financial system. The analyst highlighted concerns that holders of cash circulating outside the formal banking sector—often linked to unofficial or illicit activities—may respond by converting withdrawn banknotes into foreign currencies. 'Given the significant volume targeted and the limited timeframe for withdrawal, this is likely to increase demand for foreign currency in the parallel market,' he said. Supporting this outlook, Al-Wahsh referenced data from a similar withdrawal of the fifty-dinar note in early 2025. Following that move, foreign currency usage for personal purposes rose by 26% in 2023 compared to the previous year and surged by 63% in the first five months of 2025 relative to the same period in 2024. He attributed much of this increase to holders converting withdrawn notes into foreign currencies, thereby intensifying demand in the informal exchange market. To counterbalance potential market pressures, Al-Wahsh recommended synchronising the current currency withdrawal with the disbursement of the second tranche of personal foreign currency allocations. 'While this approach may exert additional pressure on the country's foreign currency reserves, maintaining monetary stability should remain the primary objective at this stage,' he added. On the topic of liquidity, the analyst assessed that any disruption is expected to be limited. He noted that the Central Bank has taken proactive measures to inject newly printed currency into circulation alongside the withdrawal process to ensure sufficient cash availability. As Libya navigates these financial adjustments, the Central Bank's strategy reflects an attempt to stabilise the local currency and restore confidence in the monetary system. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
Libyan Express
12 hours ago
- Politics
- Libyan Express
UN envoy warns against divisive rhetoric in Libya
BY Libyan Express Jun 20, 2025 - 05:45 UN stresses dialogue to overcome Libya's divisions The United Nations' senior envoy to Libya has issued a grave warning about the damaging impact of hate speech on the country's delicate peace process and national unity. Speaking on the occasion of the International Day for Countering Hate Speech, Hanna Tetteh, the UN Secretary-General's Special Representative for Libya, emphasised the urgent need to tackle divisive rhetoric that risks deepening the nation's political and social divisions. 'In a context marked by intense political polarisation and a fragile security situation, hate speech—particularly when based on regional, tribal or ethnic differences—represents a serious barrier to Libya's efforts towards reconciliation and stability,' Tetteh said in a powerful statement. She called on all stakeholders—including government bodies, media professionals, social media platforms and civil society organisations—to unite in promoting inclusive and respectful dialogue that counters incitement and fosters mutual understanding. Tetteh also highlighted the significant role of emerging technologies, such as artificial intelligence, stressing that these tools must be used responsibly to support peacebuilding initiatives and combat the spread of misinformation rather than inflame existing tensions. 'Libya's future hinges on a collective rejection of hate and intolerance,' she affirmed. 'Only through unity, justice and sustained dialogue can the country secure lasting peace for all its people.' The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express. How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@ Please include 'Op-Ed' in the subject line.
