A meeting convened on Wednesday between Abdul Hamid Dabaiba, Prime Minister of the Government of National Unity, and Naji Issa, Governor of the Central Bank of Libya, centered on the current economic and financial landscape, with particular emphasis on the repercussions of escalated public spending on the local currency’s value.
During the session, the Central Bank Governor underscored the urgency of accelerating the implementation of an economic reform package to enhance citizens’ living standards. He also highlighted a notable uptick in oil revenues remitted to the Central Bank within the past week.
In response, the Prime Minister commended the Central Bank’s move to disclose the actual expenditure figures, characterizing it as an important step towards financial reform and heightened transparency.
Concurrently, Dabaiba announced the initiation of a novel fuel import mechanism, phasing out the previous barter system, and stressed the necessity for collaborative efforts to ensure uninterrupted fuel supplies. Concluding the meeting, both parties reached an agreement to coordinate the disbursement of April salaries at the start of the following week, alongside a review of prevailing fiscal, monetary, and trade policies to bolster state revenues and stabilize the exchange rate and the Libyan dinar.