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US Welcomes UN Initiative to Address Libyan Central Bank Crisis

August 27, 2024
US Welcomes UN Initiative to Address Libyan Central Bank Crisis
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The United States has welcomed the United Nations Support Mission in Libya’s (UNSMIL) initiative to convene an emergency meeting with the parties involved in the Central Bank of Libya crisis, aiming to reach a consensus.

The US Embassy in Libya stated on Tuesday that the UN’s call provides a pathway to resolving the ongoing crisis surrounding the Central Bank.

The US Embassy urged all parties to seize this opportunity, highlighting that recent developments have undermined confidence in Libya’s economic and financial stability, both among Libyan citizens and the international community.

The embassy warned that these events increase the risk of further harmful confrontations.

The embassy also expressed concern over reports of arbitrary arrests and intimidation of Central Bank employees, calling for those responsible to be held strictly accountable.

UNSMIL, in a statement on Monday, expressed deep regret over the situation in Libya caused by unilateral decisions. The mission warned that persisting with such decisions or taking further unilateral actions would have a high cost for the Libyan people, potentially leading to financial and economic collapse.

UNSMIL’s planned emergency meeting falls under its mandate as outlined in UN Security Council Resolution 2702 of 2023, particularly concerning conflict prevention.

The mission called for the suspension of all unilateral decisions related to the Central Bank, the immediate lifting of the force majeure on oil fields, and an end to involving the country’s primary income source in political conflicts.

UNSMIL also emphasised the need to halt escalation, refrain from using force for political or factional gains, and ensure the safety and protection of Central Bank employees from threats and arbitrary detention.

This follows the announcement by the Parliament-designate government of a state of force majeure on all oil fields, ports, institutions, and facilities, halting oil production and exports until further notice.

The eastern-based government stated that this decision was in response to attacks on Central Bank officials and employees by groups allegedly acting under the instigation and assistance of the “illegitimate” Presidential Council.

Tags: central bank of libyalibyaunsmilUS embassy
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