Libya-US talks to develop oil sector and enhance transparency

Libya-US talks to develop oil sector and enhance transparency

October 17, 2019 - 10:56
Posted in:
Written By: SafaAlharathy

Libyan and US officials held talks in Washington on Tuesday on ways to bolster Libya's oil sector and enhance transparency in data dissemination in Libyan institutions.

From the Libyan side, the meeting was attended by Libyan Minister of Planning, Taher Al-Jahmi, Finance Minister Faraj Boumtari, Chairman of the National Oil Corporation (NOC) Mustafa Sanallah, and Governor of the Central Bank of Libya (CBL) Saddek El Kaber.

The US officials included assistants of the US Department of State and US Treasury and Energy departments, representatives from the International Monetary Fund (IMF) and the World Bank.

The meeting discussed ways to support and develop the oil sector in Libya and increase production rates within the framework of a five-year plan 2020-2024 with providing the necessary financial resources, according to the CBL.

Talks also highlighted the economic and financial situation in Libya, as well as the results achieved and steps required to strengthen the CBL and NOC efforts in this regard.

A mechanism and framework has also been put in place to enhance transparency in data dissemination, the statement said.