Benghazi, February 26, 2024 (Al-Anbaa Libyan) – The Libyan government issued a statement in which it denied refusing to deal in any denomination of the local currency.
The government stated in its statement that it followed the information received from the competent authorities about the confusion and confusion that is currently occurring among people, and in all Libyan cities, regarding the circulation of the Libyan currency in denominations of (50) dinars, due to the letter addressed by the Governor of the Central Bank of Libya to the members of the Finance Committee. In the House of Representatives, in which he refers to studying the process of withdrawing the fifty dinar note in its various issues from circulation.
She added that in light of what is happening now when some stores and commercial centers refuse to accept this category of currency from citizens, this matter is criminalized by law.
The government confirmed that the decision to issue currency denominations and withdraw them from circulation is, in accordance with applicable legislation and the Banking Law, within the jurisdiction of the Governor of the Central Bank of Libya and his deputy, and must be issued with the approval of all of them, and must be preceded by a warning and a time period of no less than six months until they are finally withdrawn from circulation.
She pointed out that we have not yet obtained these procedures, and therefore the information circulating among citizens currently has no legal or procedural basis.
She said that according to the legislation in force, rejecting legally circulated currency is a crime punishable under the Libyan Penal Code, and affects the national economy and commercial circulation among people, especially since we are on the cusp of the holy month of Ramadan.
The government reassures everyone that all denominations of the Libyan currency are normally negotiable, whether between individuals, banking institutions, or public entities. (Libyan News Benghazi) S.H.
You can also read the news in the source from the Libyan News Agency
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2024-05-06 07:45:31
Libyan Government: All denominations of the national currency are normally tradable
Settling the Skies: Qantas Resolves ‘Ghost Flights’ Lawsuit with Payouts
Qantas Agrees to Pay A$100m Penalty for Selling Cancelled Flight Tickets
Australia’s largest airline, Qantas, has reached a settlement to pay a hefty A$100m penalty to resolve a legal dispute alleging the sale of thousands of tickets for flights that were already cancelled. This agreement comes after accusations made by the Australian Competition and Consumer Commission (ACCC).
Compensation Plan and CEO’s Response
As part of the settlement, Qantas will also introduce a compensation plan valued at up to A$20m to provide restitution to affected passengers. Vanessa Hudson, the Chief Executive of Qantas, emphasized that this step is crucial in rebuilding trust in the national carrier.
The ”Ghost Flight” Case
The case, known as the “ghost flight” scandal, was initiated by the ACCC in August. It alleged that Qantas had been selling tickets for flights that had been cancelled weeks in advance, misleading customers in the process.
Approval Process and Customer Compensation
The agreement between Qantas and the ACCC is subject to approval by the Federal Court of Australia. Under the compensation plan, passengers who purchased tickets for flights cancelled two or more days in advance will be eligible for compensation. The airline has specified that domestic flight passengers will receive A$225, while international ticket holders will be compensated with A$450.
Efforts to Restore Reputation
Vanessa Hudson acknowledged the airline’s shortcomings during the Covid shutdown and expressed her commitment to restoring customer confidence. She highlighted the company’s efforts to enhance operational processes and invest in technology to prevent similar incidents from occurring in the future.
ACCC’s Response and Leadership Transition
ACCC Chair Gina Cass-Gottlieb commended Qantas for acknowledging its misrepresentation of information to customers and emphasized the necessity of a substantial penalty. The airline faced a tumultuous period of scandals and legal challenges prior to Ms. Hudson assuming the role of CEO, succeeding Alan Joyce.
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Settling the Skies: Qantas Resolves ‘Ghost Flights’ Lawsuit with Payouts
Deputy Prime Minister Choi Sang-mok Optimistic About South Korea’s Economic Growth and GDP Per Capita
Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok speaks at the ‘Business of ADB Governors’ session held at the Sheraton Hotel in Tbilisi, Georgia on the 5th (local time). Provided by the Ministry of Strategy and Finance
Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok predicted, “We are considering raising the economic growth rate forecast for this year, and we will be able to achieve a gross domestic product (GDP) per capita of $40,000 within the current government. term.”
Deputy Prime Minister Choi, who is attending the annual general meeting of the Asian Development Bank (ADB), said in a meeting with Korean reporters held in Tbilisi, Georgia on the 4th (local time) that the real GDP growth rate is expected in the quarter first. to be 1.3% compared to the previous quarter, he said, “It is too early for the public to feel it, but I am grateful that the indicators show that exports and domestic production are improving.”
He added, “The government’s growth forecast for this year is 2.2%, but the Bank of Korea will also review it, and the Ministry of Strategy and Finance is also reviewing it.” Bank of Korea Governor Lee Chang-yong also said on the 2nd, “It is inevitable to raise the current forecast (2.1%).”
Deputy Prime Minister Choi said, “Growth rate and exchange rate are the key,” and added, “I believe a per capita GDP of $40,000 will be achievable within the term of our government.” According to Standard & Poor’s (S&P), Korea’s GDP per capita is expected to increase from $35,000 in 2024 to $37,700 in 2025, $40,500 in 2026, and $43,500 in 2027. According to data from the Organization for Economic Co-operation and Development (OECD) and World Bank (WB), Korea’s GDP per capita as of 2022 is $32,142.
Deputy Prime Minister Choi also responded to a question about semiconductor subsidies by saying, “Tax and financial support are more appropriate than subsidies.” He said, “Financial spending and tax support have different roles,” and “We need to provide subsidies for areas where the private sector is not good, but it is right to provide tax support and financial support because it is providing incentives for areas where companies do well.”
Deputy Prime Minister Choi also said about the ‘250,000 won per capita for the livelihood restoration assistance of each citizen proposed by the opposition, “Considering our economic conditions and financial sustainability, rather than giving each citizen cash or supplementary budget, it should be more. specifically to support those who are socially disadvantaged and those experiencing livelihood difficulties “I think it would be effective to provide support with the aim of .”
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