The Central Bank of Libya (CBL) has acknowledged that it requires additional time to resolve the liquidity crisis accumulated over previous periods fully.
In a statement issued on Sunday, the bank affirmed its ongoing efforts to address the lingering effects of the liquidity shortage, emphasising that the resolution will take time.
The bank stated that these efforts are part of its commitment to ensuring the availability of cash and its distribution to those in need.
It highlighted that these measures align with its commitment to disbursing August salaries for all sectors funded by the state treasury. The bank also noted that it has instructed the Issuance Department to continue distributing cash to all commercial banks.
The Central Bank reiterated that its current priorities are centred on fulfilling the essential needs of citizens.
It added that the full board of directors would soon resume its responsibilities to address strategic issues and develop financial and monetary policies aimed at achieving financial and economic stability in the country.
Notably, Speaker of the Libyan House of Representatives Ageela Saleh, remains firm in his rejection of the Presidential Council’s decision to appoint a new governor and restructure the administration of the Central Bank of Libya. Saleh is calling for consultations with the High Council of State regarding the implementation of the “6+6” electoral law preparation committee’s outcomes, a body jointly formed by both councils.
In a press release published on his official Facebook page, Saleh described the Presidential Council’s decision as “null and void, issued by an unauthorized entity, lacking justification, and in violation of the Constitutional Declaration and the political agreement.” He emphasized the importance of adhering to these provisions, which mandate the House of Representatives’ authority in sovereign appointments in consultation with the State Council.
Saleh also welcomed a recent call by the United Nations Security Council urging all parties for “de-escalation and to refrain from actions, decisions, and behaviors that could undermine stability, deepen institutional divisions, and erode trust among Libyans.”
He affirmed the House of Representatives’ commitment to the outputs of the “6+6” committee, the laws concerning the election of the state president and the national assembly, and the immediate organization of elections under the auspices of a new unified government to ensure integrity and transparency, in consultation with the State Council.
