The International Crisis Group said that reaching a preliminary agreement to settle the dispute over the leadership of the Central Bank of Libya constituted a major achievement, considering that the dispute over the Central Bank was not over yet.
The Crisis Group indicated that the competing parties had a common interest in avoiding a sharp deterioration in living conditions, which could lead to popular protests or violent unrest. It said that the various parties should work in good faith with the assistance of the United Nations to implement the agreement by allowing the new governor to take over the management of the Central Bank and appoint members of the Board of Directors to prevent economic collapse.
The Crisis Group explained that reconnecting Libya to global financial circles is of paramount importance, noting that this should only be done through arrangements that include all major political forces in the country and respect the agreements that have already been reached.
The International Crisis Group stressed that the cost of disconnecting from the global financial system would be enormous for the Libyan authorities and citizens alike.
