Economic Working Group reviews progress in unifying Libya’s Central Bank

Economic Working Group Co-Chairs on Libya (EU, Egypt, United States, and UNSMIL) met with Central Bank of Libya’s (CBL) Governor, Al-Siddiq Al-Kabir, and a Governor consultant representing the CBL Deputy Governor, Ali Al-Hibri, on March 17 in Tripoli to discuss progress on reunification of the CBL and continuing essential expenditures for the priority needs of the Libyan people.

UNSMIL published a statement saying that the CBL Governor and the Governor consultant representing Deputy Governor Al-Hibri updated the co-chairs on the status of the work streams that form the reunification plan, which the CBL has worked on, with support from the US auditing firm: Deloitte.

The Co-chairs underscored the need for sovereign institutions like the CBL and the National Oil Corporation (NOC) to remain independent and urged the authorities to ensure the NOC is well resourced to boost production amidst high oil prices for the stability of Libya.

The Co-Chairs also emphasized the need for transparency in government expenditures to ensure they are well-managed for the benefit of the Libyan people.


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