A high-level economic meeting was convened on Thursday, April 17, 2024, at the Central Bank of Libya Benghazi to discuss key financial priorities and strategic reforms. The session included H.E. Naji Mohammed Issa the Governor of the Central Bank of Libya, his Deputy,Mr. Maree Al-Barasi the Prime Minister of the Libyan Government, Dr. Osama Hamad and the Chairman of Finance Committee of the House of Representatives, Mr. Omar Tantoush.

The discussions focused on a number of priority economic issues, most notably the economic reform agenda and policies related to the exchange rate, in addition to deliberations on the state’s financial resources and mechanisms to strengthen them. The meeting also addressed the latest developments concerning the preparation of a unified general budget and the need to cover its chapters in a manner that ensures efficient spending and promotes financial stability.

This meeting followed a similar engagement held the previous day in the capital, Tripoli, with the Government of National Unity, headed by Mr. Abdulhamid Dbeibeh. In both meetings, the Governor reviewed the key economic challenges facing the country and explored ways to launch an urgent package of financial, monetary, and trade reforms.

During the discussions, the Governor emphasized that the Central Bank of Libya is leading intensive efforts to curb the depreciation of the Libyan dinar and is committed to strengthening the national economy through unified and comprehensive policies, in coordination with all relevant stakeholders. He stressed that the current economic situation calls for bold decisions and broad national cooperation to avert the risk of economic collapse.

In this context, both parties welcomed the prospect of joint cooperation to implement the proposed economic reform package, and affirmed their commitment to supporting the Central Bank’s roadmap for reform. Prime Minister Dr. Osama Hamad also welcomed the initiative to hold a joint meeting with the Prime Minister of the Government of National Unity, as a step toward prioritizing national interest, alleviating the burden on citizens, and ensuring the achievement of common objectives.

Both sides underscored the importance of maintaining continuous coordination and collaboration between the Central Bank of Libya and the Libyan Government to ensure the effective implementation of integrated financial and monetary policies that contribute to sustaining economic stability and achieving the strategic goals of the current phase.