Libya holds the largest foreign currency reserves in Africa, according to a report published Wednesday by Independent Arabia. The report highlights the country’s strong financial position, with foreign currency reserves reaching $80.7 billion and gold reserves hitting 146.6 tons by the end of the first quarter of 2024.
The report highlighted that Libya’s average gold reserves between 2000 and 2024 stood at 131.3 tons, which also reveals that the Central Bank of Libya utilized a portion of its foreign currency reserves in 2024 to mitigate the impact of global oil price fluctuations witnessed in the markets last year.
