Technical meeting on critical reforms of the Libyan economy kicks off in Geneva
TRIPOLI, Dec 15 (NNN-Xinhua) — Acting Special Representatives of the UN Secretary-General for Libya, Stephanie Williams, held a technical meeting on critical reforms of the Libyan economy in Geneva, the United Nations Support Mission in Libya (UNSMIL) said.
The meeting was attended by representatives of Libya’s main financial institutions with the help of the officials from the UN, Egypt, the United States, the European Union and the World Bank to discuss the country’s currency reform, the banking crisis, the unification of the national budget, including a time table to implement these reforms, UNSMIL said in a statement.
“The meeting in Geneva is taking place against the backdrop of several promising developments, including the full resumption of Libyan oil production thanks to the significant efforts of the National Oil Corporation (NOC),” the statement said. “The revenues thus far accrued by the NOC are being withheld pending further progress towards a more durable economic arrangement.”
The UN mission stressed the importance of the unification of Libya’s financial institutions for the success of the needed economic reforms, confirming that it will continue to facilitate the international audit review of both branches of the Central Bank of Libya.
“It is a vital process to ease the re-unification of the Central Bank and to fully re-establish national accountability mechanisms,” the statement said.
Libya plunged into chaos after the fall of late leader Muammar Gaddafi’s government in 2011, witnessing prolonged conflict between the eastern-based Libyan National Army and the UN-backed Government of National Accord in the country’s west.
The warring parties signed a UN-sponsored permanent ceasefire agreement in Geneva on Oct. 23.
At a intra-Libya dialogue brokered by the UN, held in Tunisia from Nov 7-15, representatives agreed on a roadmap to credible, inclusive and democratic national elections, and set the date for general elections on Dec 24, 2021. — NNN-XINHUA
