Tetteh to the Security Council: The absence of a unified budget and uncoordinated public spending have caused the decline in the value of the Libyan dinar.
Pulbished on:
New York, February 18, 2026 (LANA) – The UN envoy to Libya, Hanna Tetteh, warned that Libya's economy is at a critical juncture, and that poverty rates are expected to rise in the coming period if the political crisis plaguing the country continues.
In her briefing to the UN Security Council on Wednesday, Tetteh stated that the Libyan economy is at a dangerous crossroads, with the currency depreciating, prices soaring, fuel shortages, and growing public discontent due to the deteriorating living conditions resulting from this situation.
Tetteh attributed the decline in the value of the Libyan dinar to the absence of a unified budget, fragmented public spending due to parallel institutions, and declining oil revenues, all of which have put pressure on Libya's foreign currency reserves.
The UN envoy said that independent estimates indicate that more than 30% of the population lives below the poverty line, and she expects these rates to increase if political instability and the government division persist.
...(LANA)...