Statement by the co-chairs of the Economic Working Group of the International Follow-up Committee on Libya
Economic Working Group Co-Chairs (EU, Egypt, United States, and UNSMIL) met with CBL Governor Saddek El Kaber, and a Governor consultant representing the CBL Deputy Governor Ali El Hebri, on March 17 in Tripoli to discuss progress on reunification of the Central Bank of Libya (CBL) and continuing essential expenditures for the priority needs of the Libyan people.
Governor El Kaber and the Governor consultant representing Deputy Governor Ali El Hebri 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 Deloitte. The Co-chairs underscored the need for sovereign institutions like the CBL and the 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.”