The United Nations Support Mission in Libya (UNSMIL) has taken note of the recent statement issued by the Central Bank of Libya (CBL) Board of Directors following its first meeting in 2025. The mission stresses the urgent need for consensus on a balanced and unified national budget to ensure Libya’s economic stability.
In a statement on Thursday, UNSMIL highlighted that a transparent and equitable budget is essential for strengthening fiscal responsibility, optimising resource allocation, and promoting long-term economic sustainability. The mission emphasised that a unified budget would enhance the CBL’s ability to implement effective monetary policies, stabilise the exchange rate, and manage public spending efficiently.
UNSMIL urged all relevant Libyan authorities to prioritise economic governance and work towards an agreement on a national budget without further delay. It warned that ongoing divisions over financial management could exacerbate economic instability and hinder efforts to improve living conditions for Libyans.
The mission reiterated its commitment to supporting Libyan institutions in achieving financial transparency and accountability. It called on stakeholders to act in the best interest of the Libyan people by adopting a unified financial framework that promotes economic recovery and growth.
The CBL Board of Directors convened its first meeting of 2025 amid ongoing economic challenges, including inflation, liquidity shortages, and fluctuating exchange rates. The bank has faced difficulties in implementing monetary policies due to Libya’s political divisions and fragmented governance.
UNSMIL’s appeal comes as Libya continues to struggle with economic fragmentation, where rival governments have operated separate budgets, leading to inefficiencies and financial mismanagement. The mission stressed that overcoming these challenges requires cooperation and a shared commitment to financial unity.
