Tripoli, 26 January 2013:
The Central Bank of Libya Governor, . . .[restrict]Saddek Elkaber, has confirmed that Libya has projects on hold approved by the former regime were worth up to $140 billion. They are currently under review.
The figure is higher than the $100 billion previously mentioned by government ministers.
Elkaber added that there are additional new projects worth yet more billions which would be offered for tender.
Speaking to Kuwait’s Al Seyassah newspaper, he said that Libyan currency is currently not accepted outside the country but that an agreement had been reached with Tunisia regarding the acceptance and exchange of currencies, but with a limit.
He also said that the Central Bank would inform neighbouring countries in the near future about new Libyan banknotes so that their banks would be able to recognise and accept them.
Elkaber added that the bank was continuing to withdraw old currency notes gradually so as not to cause confusion in the exchange market. He explined that the new notes would be in circulation by the end of January.
The currency notes being withdrawn are the old, large size, five and ten dinar notes, with the series numbers starting with a 4 or a 5.