Libyans sell jewellery as economic crisis pushes many into poverty

Updated:3 weeks, 3 days ago IST

Libya, Nov 17 (ANI): In the backstreets of Libya's capital, an economic crisis is unfolding. In Tripoli's Gold Market, many families are selling their jewelry and foreign currency savings on the black market to make ends meet. Six years of post-dictatorship chaos has taken its toll. The Libyan currency has fallen 200 percent on the parallel market since early last year. In the past two weeks the drop in the black market value of the dinar has fueled inflation that is already around 25-30 percent. Many have lost trust in banks and prefer to keep money at home. The drop in the value of the currency has also hampered medical supplies to hospitals. Even salaries that are delivered are not enough to pay the bills.

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