VOL XL

No. 02

13-January-1997

LIBYA

Libyan Hard Currency Revenues Were $9.2Bn In1996

The Governor of the Libyan Central Bank has saidthat hard currency revenues for 1996 were nearly $9.2bn, an increase of 12-13% over 1995.In remarks carried by Libyan TV on 29 December, the governor attributed the increase toimproved oil prices. He also said that the state's "cash levels" were more thanLD7,250mn ($20.4bn).