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The Central Bank's Board of Directors holds its first meeting of 2025 in the city of Derna

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Derna, January 30, 2025 (LANA) - The Board of Directors of the Central Bank of Libya held its first meeting for the year 2025 in the city of Derna, headed by Governor Naji Issa and attended by his deputy Marai Al-Barasi and all members of the Board.

The Board of Directors of the Bank decided during the meeting to start developing a mechanism to start establishing investment funds to improve the business environment and involve the banking and private sectors in financing development projects, according to a statement by the Central Bank today, Thursday.

The Board discussed the public spending policy for the year 2024 and its impact on the exchange rate and the unprecedented increase in demand for foreign currency and agreed to communicate with the relevant authorities to approve a unified budget for the year 2025 in accordance with a law issued by the House of Representatives and implement reforms in public spending policies and other economic policies.

According to the Central Bank, the members of the Board conducted an inspection tour inside the city of Derna on the sidelines of the meeting to see the latest developments in reconstruction efforts and the latest steps taken in this regard, and to meet with the Director General of the Development and Reconstruction Fund and his team to review the projects completed by the Fund and those planned to be completed.