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» 23.11.2009 - Libya and FAO sign $71 million development deal
» 04.03.2009 - Parliamentarians delay Gaddafi’s oil revenue plan
» 18.12.2008 - Africa commits to water development to fight hunger
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» 18.11.2008 - UK and Libya sign double taxation convention
» 10.11.2008 - US hands over Libya funds to Lockerbie victims
» 01.10.2008 - Russian warships stop off in Libya











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Libya
Economy - Development | Society

Ghaddafi disappears from Libyan notes

Anti-Ghaddafi protesters replace Mr Ghaddafi on Libya's new 1-dinar note

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afrol News, 25 February
- Mohamar Ghaddafi is soon to be destructed for good, at least from Libyan banknotes. The Tripoli Central Bank finally has its new paper money ready, where the ex-dictator is replaced by revolutionary fighters.

On the second anniversary of the Libyan revolution, 17 February, the new banknotes were put into circulation. From now on, the old notes, mostly decorated by the face of Colonel Ghaddafi, are being destructed as soon as they fall into the hands of the Central Bank.

The Tripoli state bank has had plenty of time to launch the new paper money. In the time after the revolution, there have still been printed banknotes with the counterfeit of Mr Ghaddafi. The only significant difference from the post-revolutionary notes has been the name of the country, renamed from the dictator's construction "Jamahiriya" to simply "Libya".

But now, the new dinar notes are completely differently designed and erase all traces from the dictatorship.

Especially the 1-dinar banknote has the mark of revolution. While the old dinar note showed a mildly smiling Ghaddafi, the new one is decorated with the revolutionary youth that demonstrate

The freedom fighter Omar al-Mukhtar has been on Libya's 10-dinar note for over 40 years

© afrol News
d against Colonel Ghaddafi two years ago, waving the new Libyan flag. The reverse is equally loaded with symbols, carrying a large post-revolutionary flag flanked by peace doves.

The banknotes of 5, 20 and 50 dinars depict historical monuments from all parts and regions of Libya, taking over for the ex-dictator. The notes, among others, carry drawings of an Italian lighthouse in Benghazi, a traditional Arab school of the desert town of Ghadames, and ancient Roman and Turkish monuments.

There is only one banknote that barely has changed its design. The 10-dinar note still shows the freedom hero Omar al-Mukhtar, who has been cherished by Libyans under King Idris, under Colonel Ghadaffi and under the revolutionary government of today. Mr Mukhtar led the liberation struggle against the Italians during the 1920s, until he was caught and executed in 1931.

The freedom fighter also was on the 10-dinar banknote during th

Colonel Ghaddafi dominated the old 50-dinar note, which now is void

© afrol News
e Ghaddafi years, and he is the only person depicted on the new paper money series.

For a long time, it was unclear whether the Central Bank would issue a note of 50 dinars (approximately 30 euros). The old 50-dinar banknote, carrying Mr Ghaddafi wearing sunglasses, had been pulled out of the market in January last year and declared void in March. The Central Bank tried to help fighting the country's large black economy through the move.

Even if new 50-dinar banknotes had been designed and printed, the Central Bank until January this year said the denomination would not be circulated, again quoting the black economy. In the last moment, however, the bank changed its mind and released the 50-dinar note, decorated by the lighthouse of Benghazi.

It is still unsure how long time Libyans will be able to pay with banknotes carrying the face of Mr Ghaddafi, but within some time their only value will be for collectors.


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