Williams calls for proceeding with CBL reunification roadmap

Williams calls for proceeding with CBL reunification roadmap

February 03, 2022 - 17:22
Posted in:
Written By: SafaAlharathy

The UN Special Adviser on Libya Stephanie Williams says there is more needed to be done to implement the reunification and reform roadmap of the Central Bank of Libya (CBL) under the guidance of its board of directors.

Williams made her comments during a meeting with the deputy of the CBL head Ali Al Hibri in Benghazi on Wednesday to discuss a plan for the bank's unification process, a statement by the CBL confirmed on Facebook.

She stressed the need to go forward with the CBL reunification plan, which applies and takes into account international standards and practices, saying it would enhance the financial and political stability that Libya desperately needs.

Meanwhile, Al Hibri reiterated the importance of reunifying the CBL for the benefit of the UN-facilitated political process and the need for the board of directors to meet as soon as possible.

The meeting touched on several issues, including cheque clearing, liquidity management, economic reforms, public debt, and the challenges facing the banks in the eastern region.

Al-Hibri expressed hope that parties would be pressed to solve these problems, especially as the holy month of Ramadan approaches.

For her part, the UN Rep. welcomed the steps taken by the Central Bank of Libya for officially launching the process of reunifying the bank last month.