Bathily & Al-Kabir Discuss Financial Stability in Libya


On Monday, the UN Envoy to Libya and the Head of the United Nations Support Mission in Libya (UNSMIL), Abdoulaye Bathily held a meeting with the Governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabir in Tripoli.

In a statement, the CBL said that Bathily and Al-Kabir discussed the central bank’s efforts to “achieve monetary stability and maintain the financial sustainability of the state.”

They also discussed the CBL’s “important role in promoting financial transparency and unifying the country’s central banks,” according to the statement.

The two officials also discussed Libya’s economic and financial situation, and “proposed solutions to improve these conditions, and mitigate their negative impact as much as possible, to amend the exchange rate of the Libyan dinar.”

During the talks, Bathily spoke about the efforts UNSMIL is making with all parties to achieve political stability, and economic growth in Libya.

Notably, the Italian-language news magazine, PANORAMA said that the CBL “for many, has been Libya’s de facto sovereign leader.”

It added that Al-Kabir “is the last pillar holding the complex and highly conflictual reality up, which is otherwise doomed to definitive collapse.”

The report said that he was “a point of reference for the International Monetary Fund (IMF), as well as for foreign governments and their compatriots but always remained in the shadows. “

According to the Italian newspaper, he “meets the French delegations, who say they are ready to resume their economic activities in Libya.”

Al-Kabir reportedly views Italy as the one “to tie up the threads between the chambers of commerce, that operate between the two shores of the Mediterranean.”

According to PANORAMA, the Governor “flies to Washington to have lunch with the Heads of the IMF. He holds riverside meetings on the Libyan state budget, and helps to decide public spending priorities for the 2023 financial year.”