Menfi takes stand against dollar exchange tax

Mohammed Menfi, the Head of Libya’s Presidential Council, has formally requested that the House of Representatives and the Central Bank of Libya comply with court rulings and abolish the fee imposed on foreign currency transactions.

In separate communications to both institutions, Menfi highlighted the importance of establishing a budget or collaborative financial arrangements to address concerns about escalating spending.

He further emphasised that the Libyan population should not be subjected to the negative economic consequences of inflation, particularly the erosion of their salaries and savings.