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280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today

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gente

gente

http://www.bbc.co.uk/news/world-africa-14746238


1 September 2011 Last updated at 06:04 ET

Libyan banknotes worth £140m (280m Libyan dinars) has been flown by the Royal Air Force to the country, the first tranche of £950m that will be handed to Libya's Central Bank.


The United Nations has approved a British request to release nearly £1bn in Libyan banknotes, which was frozen under sanctions.

The money will be used for emergency aid and to help pay the salaries of public sector workers.

The BBC's Jon Leyne was at Benghazi airport when the shipment arrived.

Panhead

Panhead
Admin

wow......odd how they set up a Central Bank so quick, but anyone who reads here shouldn't be too surprised.....thnx for thee post gente!

CK nailed this months ago......lol

MrsCK



RAF flies in first part of £950m cash to Libya to help kickstart economy (but notes still have portrait of ousted Gaddafi)

By Lee Moran

Last updated at 11:12 AM on 2nd September 2011


Crates of freshly printed bank notes worth more than £140 million were flown into Libya last night -
but they were still emblazoned with the face of ousted leader Colonel Gaddafi.

The 280 million Libyan dinars, which was unfrozen by the United Nations, was jetted in by the RAF and handed to leaders of the National Transitional Council at the Central Bank in Benghazi.

A sum of 1.8 billion dinars (£950million) was originally ordered by Gaddafi in March but Britain and the UN blocked the shipment in a bid to get the then Libyan leader to ease off on his crackdown on public protests.


280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today Article-2032511-0DA9FFAF00000578-779_468x313
Cashed up: The 280 million Libyan dinars sits in an RAF cargo hold before being handed to leaders of the National Transitional Council at the Central Bank in Benghazi



280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today Article-2032511-0DA9D64400000578-16_468x286
An RAF C-17 loaded with Libyan bank notes before it was flown to Benghazi





280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today Article-2032511-0DA9D52700000578-834_468x594
Britain was given approval by the UN to release 1.86billion Libyan dinar ($1.6bn)


It means that public servants, who have not been paid in months, will now receive their salaries - but with the face of their deposed leader staring back at them.

The money will also be used to replenish cash machines across the country, and it is hoped it will help ease the flow of cash during celebrations to mark the end of Ramadan.



The United Nations Sanctions Committee agreed on Tuesday to release the notes following a request from Britain after the NTC took control of much of the country and Gaddafi went into hiding.
The remainder of the money will be sent over 'in due course'.


280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today Article-2032511-0DA9DA2D00000578-408_468x313
Unloading: The money is taken off the Royal Air Force C-17 aircraft at an airfield in Benghazi


280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today Article-2032511-0DA7CF6100000578-661_468x361
Safety: A guard looks after crates of bank notes that have been flown into Libya after the money was unfrozen by the UN


280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today Article-2032511-0DA7CFCE00000578-4_468x332
Useful: The money will also replenish empty cash machines

British Foreign Secretary William Hague said: 'I am delighted to announce that the RAF delivered 280 million Libyan dinars to the Central Bank of Libya in Benghazi.

'The banknotes will be used to pay the wages of Libyan public sector employees, including nurses, doctors, teachers and police officers.

'This is particularly important at the time of Eid. Returning money to the Libyan people is part of our commitment to help the NTC rebuild Libya and help create a country where the legitimate needs and aspirations of the Libyan people can be met.'

- William Hague


'They will also provide support for those on social security who have not been paid for a number of months.

'This is particularly important at the time of Eid. Returning money to the Libyan people is part of our commitment to help the NTC rebuild Libya and help create a country where the legitimate needs and aspirations of the Libyan people can be met.'

The cash had been ordered from British printing firm De La Rue PLC in March, but since being blocked it has languished in a safe while battle raged for control of Libya.

The cargo included Libyan one dinar and 50 dinar notes, which both feature a portrait of the Colonel.
Defence Secretary Liam Fox added: 'I am pleased that the RAF was able to assist in the delivery of these banknotes - another example of the highly professional approach all three of our Armed Forces have been taking to support the Libyan people at this time.'

The shortage of hard cash has been a problem throughout the conflict, with long lines often forming outside banks as people sought to take out their money.
The NTC frequently complained of a lack of liquidity in areas under its control.

280 million (950m GBP) frozen Libyan Dinars released to Libyan Central Bank today Article-2032511-0DA429C800000578-268_468x320
Reminder: Libyan public servants will now be paid for the first time in months, but will have the face of their deposed leader staring back at them

gente

gente

Already saw people trying to spin this into "the lower denoms are being released" and such on a few other boards...thx Ck

Panhead

Panhead
Admin

gente wrote:Already saw people trying to spin this into "the lower denoms are being released" and such on a few other boards...thx Ck

lemme guess....Okie and his legion on twits?....sad that folks who can't distinguish between different
types of dinar are going to have money (however brief it may be)

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