The Presidential Council sent a letter to the Ministry of Foreign Affairs to address embassies informing them of the formation of a board of directors for the Central Bank of Libya (CBL) from technocratic competencies and of enabling the governor elected by the House of Representatives and accepted by the High Council of State to assume office to ensure the stability of Tripoli.
The Presidential Council said in a statement that there were security challenges in Tripoli due to obstruction, aggravation and unilateral decisions from Benghazi originating from the House of Representatives (hoR). It added that the HoR did not achieve the necessary consensus to unify the Central Bank or appoint a new governor for the bank in coordination with the High Council of State in accordance with the political agreement.
The Presidential Council informed the embassies that Al-Siddiq Al-Kabir complicated the crisis and did not show sufficient response to intermediate solutions to the current crisis based on a complete board of directors and compliance with a joint financial committee as well as unified security arrangements, which entangled the financial crisis in the country.
It indicated that this temporary measure would remain in place until reaching an agreement on a new governor in accordance with the political agreement and its amendments in the event that the HoR decided to return to this agreement after the unilateral and unconstitutional measures it recently took regarding revoking the Geneva Libyan Political Dialogue Forum (LPDF).
The Presidential Council informed the embassies that the relevant institutions, including the internationally recognized government “Dbeibah’s government”, the Libyan Investment Authority and the Presidency of the High Council of State, stand together behind the decisions of the Presidential Council aimed at strengthening financial reform, which will include measures to ensure the independence and integrity of the National Oil Corporation.
A committee tasked by the Presidential Council to oversee the handover of the duties of the Central Bank of Libya’s (CBL) governor Al-Siddiq Al-Kabir announced the completion of the administrative handover procedures, saying that the “former governor” refused to hand over power.
