Rifts plague Libya’s central bank
Although a new unity government was formed in Libya, ending years of division in state institutions, conflicts still plague some financial institutions that control the country's economy, namely the central bank.
Some financial and economic institutions in Libya are still experiencing division — namely, the Central Bank of Libya — despite Libya's newly formed Government of National Unity headed by Prime Minister Abdul Hamid Dbeibeh.
Dbeibeh’s government assumed power on Feb. 5, and a new Presidential Council headed by Mohamed al-Menfi was elected at the Libyan Dialogue Forum, held under the UN auspices in the presence of 73 Libyan figures from various regions.
In this context, Salama al-Ghwail, Libya’s minister of state for economic affairs, told Al-Monitor, “The National Unity Government was established following years of political and administrative division in Libya, and thus unifying economic and financial institutions will have a positive impact.”
He added, “Unifying the ministries of Finance and Economy allowed the government to achieve some progress in a short period of time, and the effects of this process began to appear gradually, notably in preparing a unified budget, planning policy and payroll system.”
