Author: Maya Gebeily and Angus McDowall

Unofficial Libyan banknotes exchanged for real dollars have contributed to the devaluing of the dinar, according to sources. Some banknotes were printed by Russia and exported to eastern Libya, while others were printed illicitly within the country. The Central Bank of Libya has deemed these new banknotes as counterfeit, but they are being converted to hard currency on the black market or through local banks, sources reveal. The money from these banknotes has been used to fund infrastructure projects in eastern Libya and may also be funding Russian mercenary activity in Libya and the Sahel. The US State Department has…