The Head of the Presidential Council of the Libyan Government of National Accord Fayez Al-Sarraj is planning to announce his resignation soon but will stay on in a caretaker capacity through negotiations for a new government in Geneva next month, according to officials familiar with his thinking, reported Bloomberg on Tuesday.

Bloomberg said, citing two officials speaking on condition of anonymity to discuss confidential conversations, that by announcing his resignation, Al-Sarraj would relieve some of the pressure on himself while setting the stage for his exit after the Geneva talks.

"The rival sides will be asked to agree on a new presidential council structure that unifies the country’s dueling administrations and schedule elections." Bloomberg said.

It added that the move is expected to be welcomed by Haftar’s regional backers, including Egypt and the United Arab Emirates, while facilitating the talks to unite Libya.

Meanwhile, Bloomberg said four officials said Al-Sarraj and his aides discussed his plans with Libyan and international partners, adding he was expected to make his announcement by the end of the week.