The Board of Directors of the Central Bank of Libya held its first meeting in 2025 in the city of Derna. The meeting was chaired by the Governor Naji Issa and attended by his Deputy and all members of the Board.
The Central Bank of Libya made a number of decisions at the meeting, including developing a mechanism to start establishing investment funds to improve the business environment and involve the banking and private sectors in financing development projects. It also discussed the public spending policy for the year 2024 and its impact on the exchange rate and the unprecedented increase in demand for foreign currency.
The meeting saw an agreement on communicating with the relevant authorities to approve a unified budget for the year 2025 in accordance with a law issued by the House of Representatives, and to implement reforms in public spending policies and other economic policies.
On the sidelines of the meeting, “the Board conducted an inspection tour inside the city of Derna to see the latest developments in reconstruction efforts and the latest steps taken in this regard, and to meet with the Director General of the Development and Reconstruction Fund and his team to review the projects completed by the Fund and those planned to be completed.”
