Libyan economic experts committee calls for opening bank clearing

Libyan economic experts committee calls for opening bank clearing

September 01, 2021 - 21:58
Posted in:
Written By: AbdulkaderAssad

The Libyan economic experts committee called for immediate opening of clearing among banks, according to a letter by the UNSMIL coordinator, Raisedon Zenenga, to the Governor of the Central Bank of Libya Al-Siddiq Al-Kabir.

The letter called for removing all illegal restrictions on selling foreign currency and fair distribution of foreign currency allocations to Libyan commercial banks.

Zenenga expressed, in the letter that was sent to Al-Kabir on August 18, fears of the committee of the continuous shutdown of clearing and the lack of loans that failed to achieve tangible results and provide cash as well as foreign currency, in addition to fears that the government wouldn't act on the committee's recommendations.

The letter said the Government of National Unity isn't treating cutting on spending as a priority, adding that there was no coordination with other tracks of the Berlin Conference as well as negative effects of the political conflict on the implementation of the committee’s recommendations.