The Governor of the Central Bank of Libya (CBL), Al-Sadiq Al-Kabir and his accompanying delegation held a meeting with the Executive Director of the World Bank Group, Naveed Baloch.
One of the key topics of discussion during the meeting was the World Bank’s relationship with Libyan institutions, as well as ongoing and targeted projects.
The meeting also touched upon the International Monetary Fund’s (IMF) report regarding Article IV consultations, and aspects of cooperation and partnership between the CBL and the World Bank.
Days ago, Al-Kabir, and Assistant Secretary of the US Treasury, Eric Meyer discussed joint cooperation to combat money laundering and terrorism financing.
The US Special Envoy to Libya, Richard Norland participated in the meeting, which was held in Washington DC, on Tuesday.
According to a statement issued by the CBL, the two sides discussed the results of the Article IV consultations with the IMF. As well as the CBL’s efforts, in partnership with the Libyan Government of National Unity (GNU), to invest in renewable energy and raise oil production rates.
Earlier, Al-Kabir held discussions with the US Federal Reserve Board (FRB), the IMF, and the World Bank regarding the challenges confronting the financial sector.
The CBL’s media office revealed that the meeting, which was conducted in Washington with the participation of several central banks and financial institutions globally, addressed the challenges facing the financial sector. Specifically, the proposed policies in light of technological developments in the field of payments and digital currencies, climate change, and crises were explored.
The meeting emphasised Libya’s proactive role in confronting global financial trends and understanding the implications these trends might have on its financial sector. By involving itself in these discussions, Libya is strategically positioning itself to effectively navigate the changing landscape of international finance.
