The Governor of the Central Bank of Libya, Naji Issa, called on the Prime Minister of the Government of National Unity Abdul Hamid Dbeibah to begin implementing a package of economic reforms, noting an improvement in oil revenues during the current week.
During their meeting on Wednesday at the Central Bank headquarters in Tripoli, Issa and Dbeibah discussed the repercussions of public spending on the economic and financial situation and its impact on the strength of the Libyan dinar, according to a post by the CBL on its Facebook page.
Dbeibah expressed his gratitude to Issa for disclosing the actual level of spending for the first time, stressing that transparency in this file represents an important step toward financial reform.
Dbeibah noted that his government had already begun implementing a new mechanism for importing fuel, moving away from the previous barter system. He expressed hope that all concerned parties would cooperate in fulfilling their roles to ensure the continued availability of fuel and achieve stability in this vital sector.
At the conclusion of the meeting, Dbeibah and Issa agreed to coordinate efforts between the government and the Central Bank regarding the disbursement of April salaries at the beginning of next week.
They also stressed the need to undertake a set of reforms in economic policies—fiscal, monetary, and trade—with the aim of enhancing sovereign revenues and improving their collection methods, in addition to taking all necessary measures to support the value of the Libyan dinar, maintain exchange rate stability, and achieve financial sustainability for the state.
