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UNSMIL continues to support work of Libyan Economic Dialogue

The UN Support Mission in Libya (UNSMIL) and the Economic Working Group’s (EWG) co-chairs have reiterated their commitment to continue supporting the Libyan Economic Dialogue to reinforce Libyan progress in consolidating the budget and improve the transparent management of oil revenues.

The remarks came Wednesday in a virtual meeting held by the Acting Head of the UNSMIL, Stephanie Williams, with the co-chairs of the EWG, including the Ambassadors of the Republic of Egypt, the European Union, and the United States.

UNSMIL explained in a statement that Williams convened the virtual meeting of Libyan policy makers to follow up on the basket of reforms discussed in Geneva on 14-15 December 2020.

The meeting brought together GNA Minister of Finance Faraj Bumtari, IG Deputy Minister of Finance Morajea Ghaith, National Oil Corporation (NOC) Chairman Mustafa Sanallah, GNA Acting Minister of Planning Mohamed Zaidani, as well as representatives of the two branches of the Central Bank of Libya (CBL) and the National Audit Bureau.

According to the UNSMIL, the EWG co-chairs welcomed the increased collaboration and exchanges among Libyan economic and financial institutions.

“A meeting will be held soon to agree on a consolidated budget. Agreement on a consolidated and unified budget is the major outstanding step in the set of reforms needed to create a more durable, equitable and accountable economic arrangement in Libya which will determine an improvement in financial governance and  management of oil revenues.” The attendees of the EWG reiterated.

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