Governor H.E. Naji Mohammed Issa Meets with World Bank Vice President Ousmane Dione

On Wednesday, April 23, 2025, H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, and his accompanying delegation met with Mr. Ousmane Dione, Vice President of the World Bank for the Middle East and North Africa, along with senior directors from the World Bank’s technical departments.

The meeting focused on several areas of mutual interest, including the priority of economic recovery and reform, the Central Bank of Libya’s strategy for enhancing financial inclusion, and the development of electronic payment systems. Discussions also addressed support for the development of micro, small, and medium-sized enterprises (MSMEs).

The meeting concluded with an agreement to launch initiatives aimed at fostering youth entrepreneurship and promoting a culture of small and medium enterprise development across all regions of Libya.

H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya , along with his accompanying team, met with Mr. Andrew Torre, Regional President for Central Europe, the Middle East, and North Africa at Visa, in the presence of Ms. Caitlin M. McDonnell, General Manager and Head of U.S. Government Relations On Tuesday morning, April 23, 2025. This meeting is part of a series of engagements aimed at enhancing financial inclusion in Libya by encouraging the expansion of electronic payment services, as well as supporting the Central Bank’s efforts in regulating financial transactions in line with anti-money laundering and anti-terrorism financing standards.the Governor also met with Mr. George Owuor Jr., Vice President of MasterCard.

H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, participated alongside Dr. Khaled Al-Mabrouk, Minister of Finance of the Government of National Unity, in the meeting of Central Bank Governors, Finance Ministers, and Heads of Regional Financial Institutions from the Middle East, North Africa, Afghanistan, and Pakistan (MENAP). The meeting was held on the margins of the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, D.C., from April 21 to 26.

Discussions focused on strategic regional priorities and economic growth prospects amid ongoing global uncertainty. Participants exchanged views on the need for sound monetary policies to absorb recurring economic shocks, as well as fiscal policy measures required to contain inflation.

The session was chaired by Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund, and attended by senior-level representatives, including Central Bank Governors, Finance Ministers, and Heads of Regional Financial Institutions from across the MENAP region.

H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya , and his accompanying delegation met with senior executives .The meeting included Mr. Daniel M. Zelikow, Vice Chairman, Mr. Georges Al Achkar, Executive Director and Head of Public Sector for the Middle East and North Africa, and Mr. Rahul Shah, Managing Director of Global Financing Solutions on Tuesday, April 22, 2025 at J.P. Morgan in Washington, D.C.

The discussions covered global economic developments, prospects for international markets, and the Central Bank of Libya’s strategy to diversify its investment instruments in order to preserve and grow its foreign exchange reserves. The meeting also addressed the Bank’s efforts to strengthen bilateral relationships with correspondent institutions abroad.

H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya and his accompanying delegation held a meeting with Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), in the presence of senior IMF department directors on Tuesday, April 22, 2025.

The discussions focused on the outcomes of the Article IV Consultation and the efforts undertaken by Libyan institutions to provide relevant data and information. Governor Isa also presented his initiative to address the structural imbalances affecting the Libyan economy, along with his short-term vision for overcoming the crisis through a proposed package of economic reforms. Central to this proposal are the unification of public spending and a comprehensive review of trade and fiscal policies.

The initiative was met with broad support, with IMF representatives expressing their willingness to provide the necessary technical assistance and advisory support to the Central Bank, particularly in the areas of exchange rate policy and strengthening the value of the Libyan dinar.

The American Libyan Business Association hosted H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, and his accompanying delegation, in attendance of Mr. Jonathan Winer, former U.S. Special Envoy to Libya, along with a number of business leaders and representatives of American companies to address recent economic developments, the business and investment climate in Libya, and their impact on the performance of foreign and American companies operating in the country on April 21, 2025, in Washington, D.C.
The session also provided an opportunity to discuss the Governor’s ongoing efforts within his initiative to reform Libya’s overall economic situation and explore prospects for strengthening economic cooperation.
The Governor reassured attendees that the processes for opening letters of credit and foreign exchange sales to both the public and private sectors are proceeding smoothly.

H.E. Naji Mohammed Issa, Governor of the Central Bank of Libya, commenced his official engagements with a meeting held on Monday, April 21, 2025, in Washington, D.C., with Mr. Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), accompanied by his team, during the Annual Meetings of the IMF and the World Bank.

Discussions during the meeting focused on the latest developments in Libya’s economic and financial landscape, as well as the pivotal role played by the Governor in navigating the country through a protracted crisis, deepened by ongoing political and institutional fragmentation. Governor Issa also presented his strategic outlook for the coming period, outlining the main priorities and challenges he is working to address in both the short and long term.

Mr. Azour and the delegation of IMF experts commended the Central Bank of Libya for its proactive role in addressing the ongoing economic challenges. They highlighted the encouraging progress achieved through recent actions taken by the Bank, including efforts to ease liquidity constraints, introduce impactful initiatives, and foster consensus among key stakeholders on adopting a unified budget and implementing urgent reforms. These steps have collectively contributed to a gradual improvement in the performance of the Libyan dinar.

The meeting concluded with a reaffirmation of the importance of supporting the Governor’s initiative at both the national and international levels to ensure its success and sustainability.

The Governor of the Central Bank of Libya, accompanied by his Deputy, held a meeting with department directors from the Bank’s Tripoli and Benghazi branches at the Central Bank’s headquarters in Benghazi on Thursday, April 17, 2024. The meeting addressed the progress of work within the unified operational framework, as well as the preparedness of the Issuance Departments at the branches to receive the fifty-dinar banknotes scheduled for withdrawal. The outcomes were highly positive and deemed satisfactory across all administrative and technical levels.

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.

The Governor of the Central Bank of Libya, H.E. Naji Mohammed Issa, met with the Prime Minister of Government of National Unity, Eng. Abdulhamid Dbeibah, to discuss the implications of public spending on the country’s economic and financial situation, and its impact on the strength of the Libyan dinar on Wednesday, April 16.

During the meeting, the Governor stressed the urgent need to implement a package of economic reforms aimed at improving living standards, within the framework of an accelerated action plan. He also noted that oil revenues deposited at the Central Bank had witnessed a significant improvement this week.

The Prime Minister, in turn, expressed his appreciation to the Governor for revealing, for the first time, the actual amount of public expenditure. He emphasized that such transparency marks a significant step toward advancing financial reform.

On a separate note, the Prime Minister confirmed that his government has already begun implementing a new mechanism for importing fuel, moving away from the previous bartering system. He expressed hope that all relevant parties would cooperate to ensure the continued availability of fuel and the stability of this vital sector.

concluding the meeting, both parties agreed to coordinate efforts between the government and the CBL to ensure the disbursement of April salaries at the beginning of next week. They also emphasized the importance of introducing a series of reforms to economic policies including fiscal, monetary, and trade policies with the aim of boosting sovereign revenues and improving their collection Additionally, they underlined the need to take all necessary measures to support the Libyan dinar, maintain exchange rate stability, and ensure the state’s financial sustainability.

Governor of the Central Bank of Libya, H.E. Naji Mohammed Issa, convened a comprehensive meeting on Wednesday, April 16, 2025. The meeting was attended by the Chairman and members of the Finance Committee, several members of the Libyan House of Representatives, the Deputy Governor, as well as directors of relevant departments at the Central Bank.

The discussion focused on the overall economic and financial situation of the country, through a review of key macroeconomic indicators. Attendees exchanged views and perspectives on the challenges and the necessary reforms required to to overcome the crisis.