Merchants dealing in household and durable goods held a meeting and a protest yesterday against the Minister of Economy and Trade’s decision (Resolution 449 of 2026) to restrict imports by mandating that they be processed exclusively through official banking channels.
During the Kremia Wholesale Market (Tripoli) meeting, the merchants emphasized that this decision creates significant hardships, given that banks are unable to provide the necessary foreign exchange transfers and financing for all merchants—particularly small and medium-sized enterprises.
The traders affirmed their support for regulating trade and combating corruption and smuggling. However, they reject the notion that merchants alone are responsible for rising prices, pointing instead to the difficulties inherent in current banking procedures, the oversight of letters of credit, and broader monetary policy.
The merchants also issued an official statement expressing their rejection of what they perceive as an unjust measure that harms their interests. They called for a review of the decision and the development of practical solutions to ensure the continued flow of trade.
Consequently, the traders call for the postponement of Resolution 449 of 2026 until the banking system operates equitably for all merchants. They further demand the facilitation of banking transactions—such as transfers and letters of credit—the ensuring of fair distribution of foreign currency, and the implementation of effective oversight regarding imports and pricing.
They stressed that, ultimately, it is not only the merchants who suffer, but the Libyan public is also affected, as the policy leads to rising prices, shortages of goods, and market instability.