Bank

<p>The dramatic devaluation of the Libyan dinar has recently drawn the attention of international observers. Libyan authorities attribute this sharp drop to a wave of counterfeit banknotes, which appear to originate from Russia. This revelation raises crucial questions about Moscow’s involvement in the economic affairs of Libya, a country already plagued by conflict and chronic political instability.</p>
<h2 id="h-la-decouverte-des-billets-contrefaits">The Discovery of Counterfeit Banknotes</h2>
<p>On June 24, Reuters published a report detailing how the influx of counterfeit banknotes may have contributed to the devaluation of the Libyan dinar. These bills were allegedly exchanged for <a href="https://www.cointribune.com/en/the-brics-are-preparing-a-masterstroke-against-the-dollar/" target="_blank" rel="noopener noreferrer nofollow">US dollars</a>. Libyan authorities suspect that the Russian printer Goznak might be behind this illicit currency. Diplomatic sources and the international investigative group The Sentry also confirm the presence of these counterfeit banknotes in the country.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>The falsified banknotes <a href="https://www.reuters.com/markets/currencies/illicit-banknotes-east-libya-some-made-by-russia-hit-dinar-2024-07-24/#:~:text=July%2024%20(Reuters)%20%2D%20Unofficial,were%20printed%20illicitly%20within%20Libya" target="_blank" rel="noopener noreferrer nofollow">are reported to have been introduced</a> in Libya, where they were exchanged in the east of the country, a region controlled by Commander Khalifa Haftar. This region has also previously benefited from Russian funding for infrastructure projects. New information suggests these banknotes might have been used to finance Russian mercenary activities in the region and the Sahel. For now, neither the Central Bank of Libya (CBL) nor the Libyan National Army has officially responded to these allegations.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-consequences-economiques-pour-la-libye-et-la-russie">Economic Consequences for Libya and Russia</h2>
<p>The devaluation of the Libyan dinar, partly caused by these counterfeit banknotes, further exacerbates the economic and political crisis in Libya. Through Goznak, Russia provided billions of dinars to the eastern Libyan government before the formation of the unity government in 2020. Although this practice ceased after a ceasefire agreement, the repercussions of these actions continue to affect the country’s economic stability.</p>
<p>The accusations against Russia could have significant diplomatic repercussions. The international community might intensify its investigations into Russian involvement in Libya and other unstable regions. Meanwhile, Libya will face the daunting task of stabilizing its economy and restoring confidence in its national currency. The Libyan government will also need to strengthen its financial security measures to prevent future fraud.</p>
<p>In summary, this counterfeit banknotes affair highlights the complex challenges Libya faces. The devaluation of the Libyan dinar is not just an economic problem but also a symptom of broader <a href="https://www.cointribune.com/en/bitcoin-bravely-resists-economic-and-geopolitical-pressures/" target="_blank" rel="noopener noreferrer nofollow">geopolitical conflicts</a> in the region. Transparency and international cooperation will be essential to resolve this crisis and stabilize the situation in Libya.</p>

Economy: Russia accused of devaluing the Libyan dinar!

Inhoudsopgave

Cointribune EN

Andere artikelen gepubliceerd op 27 jul 2024

‘No US Dollar by 2045’: Samson Mow Responds To Michael Saylor’s BTC Prediction

Here is why Cardano will soon surpass Bitcoin!

Crypto Prices Today July 27: BTC Tops $68K, SOL Overtakes BNB

Edward Snowden on Bitcoin: We Are Winning

Solana, Helium, And MEW Shine As Ethereum ETF Falls Short: Find SOL, HNT, MEW Price Prediction

WazirX launches fund recovery plan post $230M hack

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!