High Council of State gives CBL governor one week to reform Libya ailing economy

High Council of State gives CBL governor one week to reform Libya ailing economy

May 27, 2018 - 19:53
Posted in:
Written By: AbdulkaderAssad

The High Council of State (HCS) reviewed in a meeting on Sunday the current slide of Libyan living conditions and the sharp abrupt drop of Libyan dinar in exchange of the US dollar at the black market, where $1 registered over 7.50LYD this evening.

The HCS gave the governor of the Central Bank of Libya (CBL) a week for carrying out comprehensive economic reforms that were propped by the HCS.

"If the reforms were not conducted by the CBL during the span of the deadline, the HCS will hold a meeting to review the reconsider the occupation of CBL Governor as per Libyan Political Agreement Article 15." The HCS added.

Meanwhile, the first deputy of the House of Representatives (HoR) Fawzi Al-Nuwairi, called on the HCS to look positively into the HoR decision to appoint Mohammed Shoukri as the governor in place of Siddiq Al-Kabeer who has been in office since 2012.