Statement following 15 December EWG Plenary on CBL Reunification and Reform
Ambassadors of Egypt, the EU and the US, joined by the Special Adviser to the United Nations Secretary General on Libya, Ms. Stephanie Williams, as co-chairs of the Economic Working Group of the Berlin Process, convened a plenary meeting on 15 December to discuss the progress of reunifying the Central Bank of Libya with Governor Saddek ElKabir and Deputy Governor Ali ElHebri. Governor ElKabir and Deputy Governor ElHebri summarized recent progress in their efforts to advance the reunification process since the last plenary session on September 9 where Deloitte presented the financial review and reunification roadmap. Both branches have appointed technical teams and agreed on the structure and the organizationof the technical work. The Governor and the Deputy Governor voiced strong agreement on the need to reunify the central bank without delay.
EWG co-chairs emphasized the importance of a reunified central bank to the UNSMIL-facilitated political process and the benefits it will generate for the country’s stability and future, underscoring the necessity to maintain the unity and independence of the country’s sovereign economic and financial institutions. The EWG co-chairs, some plenary members, the WB and the IMF all expressed their willingness and readiness to support reunification efforts with technical assistance, which will require further consultations to forthcoming period. The EWG agreed to meet again on this topic in March to assess the status of phase one of reunification.