A member of the Financial Arrangements Committee of the Presidential Council (PC), Adel Al-Werfalli, said that the PC has referred the economic reform program to the Central Bank of Libya before Eid al-Adha.

In a press statement, Al-Werfalli explained that the Presidential Council was not authorized to implement the economic reform program because of lack of legal basis that allows the PC to raise the dinar exchange rate against foreign currencies.

He said the PC's delay in approving the reforms was to avoid any possible judicial appeals that could be brought against it if it approved the economic reform program.