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UNSMIL welcomes appointment of Board of Directors of Central Bank of Libya.

Pulbished on:

Tripoli, October 22, 2024 (LANA) - The United Nations Support Mission in Libya (UNSMIL) welcomed the appointment of the Board of Directors of the Central Bank of Libya (CBL) pursuant to Decree No. 17 of 2024, issued yesterday by the Presidency of the House of Representatives.

According to a statement published by the mission today, Tuesday, this appointment represents an important step in implementing the provisions of the Central Bank of Libya agreement reached on September 26, facilitated by the United Nations Support Mission in Libya (UNSMIL), stressing that it is necessary to ensure that the bank operates with independence, integrity, transparency and accountability, in parallel with its effective management of monetary policy and its contribution to supporting the country's economic stability.

The United Nations Support Mission in Libya said that it encourages the new leadership of the bank to continue efforts to make tangible progress on reunifying the Central Bank of Libya, and to implement further measures to strengthen its governance, including avoiding conflicts of interest.

The mission stressed the adoption of sound policies to ensure financial and economic stability in Libya, based on the recommendations issued by the international financial review of the Central Bank of Libya facilitated by the mission, and Article IV consultations with the International Monetary Fund.

According to the statement, the mission recalls the need to protect the Central Bank of Libya against political interference in order to maintain its credibility within the international financial system and enable it to effectively play its essential role in the Libyan economy.