Jason Pack on Al-Jazeera on Russian supply of Libyan Dinars to Eastern institutions
On October 29, Reuters reported as an exclusive information that supplies of bank notes from Russia to parallel Eastern Libyan institutions accelerated over the course of the past year. Reuters collected the data from Russian customs, which indicates that between February to June 2019, Russia sent these parallel institutions nearly 4.5 billion Libyan dinars ($3.22 billion). Both Western and Eastern Libya face a severe liquidity crisis. Founder of Libya-Analysis LLC Jason Pack commented the event in an interview with Al-Jazeera on 29 October. He explains how this support by Russia undermines the legitimacy and authority of the Western-Libya based Central Bank of Libya (CBL) which supposedly holds the prerogative of controlling the amont of currency in circulation in the country. For Pack, this event underlines the war on economy taking place in Libya as the same time than the war for territory and political legitimacy between rival military and political factions.