The Governor of the Central Bank of Libya, Naji Issa, discussed with the Deputy Special Representative of the UN Secretary-General, Ulrika Richardson, developments in the foreign exchange market and possible measures to achieve financial sustainability.
The talks took place during a meeting held on Tuesday, attended by the UN economic team and heads of relevant departments at the Central Bank.
The Central Bank said the meeting came within the UN mission’s efforts to support the package of economic reforms led by the bank, aimed at achieving economic stability.
It added that discussions focused on several key areas, most notably the readiness of Libyan institutions to implement the recommendations of the structured dialogue, particularly on the economic track overseen by the mission.
The meeting also addressed financial developments following the signing of the unified public spending agreement and the requirements for maintaining macroeconomic stability. It further explored ways to define priority areas and develop a sequenced reform roadmap to support the gradual and effective implementation of reforms.
Earlier, the Central Bank announced that it had agreed with commercial bank managers to set next Sunday as the date to begin selling US dollars directly to citizens through banks for the first time in nearly a decade. The move is seen as significantly reducing the gap between the official and parallel exchange rates, contributing to strengthening the Libyan dinar and improving citizens’ purchasing power.
