NSG asks CBoL to coordinate to secure good results for any opening of documentary credit.

Tripoli, 09.02.2016(Lana) The National Salvation Government (NSG) called on the Central Bank of Libya (CBoL) to coordinate with the government to secure good results for any opening of documentary credit, reflecting on availability of affordable goods and to ensure no flaws similar to those accompanied last documentary credits. NSG wrote to the CBoL urging for coordination to avoid flaws such as importing of empty containers and squandering of large sums of foreign currency and shifting documentary credits into feeding into the parallel money market. The NSG said it formed committees comprising academics, trade unions and chambers of commerce and industry which made recommendations to the government. The NSG stressed in its letter the urgency to share such recommendations with the CBoL and also to consider alternative solutions to address the decline of the Libyan dinar vs foreign currency and ensure importaning of goods at affordable price and follow up such goods in such a way as to prevent monopoly. =Lana=