Libya's Central Bank full board holds meeting for first time in 6 years

Libya's Central Bank full board holds meeting for first time in 6 years

December 07, 2020 - 20:14
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Written By: AbdulkaderAssad

The board of directors of the Central Bank of Libya (CBL) held Monday a full-quorum meeting for the first time in six years to discuss fixing exchange rates of the Libyan dinar to foreign currencies.

The CBL said the preliminary meeting aimed to activate the role of the board as per the law and discussed stability of prices and support to the banking system.

The CBL also said the meeting looked into options for fixing the exchange rate of the Libyan dinar to achieve long-run fiscal and monetary safety toward more broad reforms in the Libya's financial policies.

The technical committee of the Central Bank branches in Tripoli and Al-Bayda held a meeting Sunday that proposed fixing exchange rates of the dinar to foreign currencies and the positivity of that meeting led to Monday's statement for the full board in a first in six years, ahead of agreement on a rate to be announced later.