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Author: LS

Women’s Empowerment lacks financial support

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One year after its establishment, the Women’s Empowerment and Support Unit of the Presidency Council continued to lack financial support from the Government.

The Unit held consultative meetings with members of civil society organizations, women’s groups, government officials and ministers.

The Unit recently endorsed the report on the comprehensive national review of the progress made towards the implementation of the Beijing Declaration and Platform for Action.

However, the Unit has yet to produce any policies or decrees related to gender equality, as envisaged in its mandate.

Between 27 August and 11 November, 200 women benefited from training sessions aimed at developing income-generating skills, organized by the United Nations Population Fund (UNFPA).

On 29 August, Deputy Special Representative for Political Affairs briefed the Informal Expert Group on Women and Peace and Security, noting the disproportionate effect of the continuing hostilities on Libyan women and girls.

UN report covers the economic developments in Libya

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During the reporting period, the Libyan dinar strengthened against the United States dollar, which increased its purchasing power with regard to basic commodities, such as food.

The progressively decreasing foreign currency exchange tax imposed by the Presidency Council in September 2018 encouraged deposits and undercut the black market. The revenue windfall from the tax, which was expected to exceed 20 billion Libyan dinars in 2019, continued to keep in surplus the general budget overseen by the Government of National Accord.

While most of the revenue accrued from the tax is included in the general budget, and although the Central Bank of Libya has recently begun publishing regular budgetary reports, there is still a lack of transparency regarding the individuals who are able to obtain access to the taxed rate, as opposed to the official rate.

In southern Libya, cash flow remains a challenge owing to the inability to deliver cash on the part of the official western branch of the Central Bank and the parallel non-recognized Central Bank branch in eastern Libya.

Since April, growth in gross domestic product has been cut by two thirds owing to the conflict, and debt has increased dramatically. While debt directly managed by the Central Bank of Libya decreased to 56 billion Libyan dinars, that of the parallel non-recognized Central Bank branch in eastern Libya increased to 43 billion Libyan dinars, resulting in an overall gross domestic product-to-debt ratio of 150 per cent.

NOC suffers huge losses

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Libya’s National Oil Corporation (NOC) confirmed yesterday a virtual total oil production shutdown resulting in a loss of crude oil production of 1.2 million barrels per day, and daily financial losses of approximately 77 million dollars.

Reporting in a public information notice on its latest production and loading status at its blockaded oil ports, the NOC confirmed that Hariga, Brega, Sidra and Ras Lanuf ports are closed and under force majeure.

It explained that these ports have limited storage capacity, and that the NOC will be forced to shut crude oil production when capacity is filled.

As a result of the declaration of force majeure on all loadings from Zueitina, Hariga, Brega, Es Sider and Ras Lanuf ports, following these instructions to halt exports, the NOC revealed that it is unable to load a scheduled cargo of liquid petroleum gas (LPG) destined for Benghazi.

It explained that Benghazi storage facility contains 12 days of LPG supply, and the that NOC is taking measures to ensure continuity of supply.

Similarly, the closure of valves in the Hamada pumping station on 19 January 2020 by the PFG resulted in the declaration of force majeure and shutdown of production from the Sharara and El Feel oilfields. This caused the suspension of supplies to the Ubari power plant (in southern Libya) and will eventually cause it to stop when it runs out of stock, the NOC explained.

Production from the Hamada oilfield was shut down on 20 January 2020.

The NOC explained to the Libyan public that force majeure is a contractual clause that frees it from its legal obligations to supply oil or gas to customers when faced with circumstances outside its control, including war, strikes and bad weather. Force majeure is generally lifted when the circumstances that led to it being imposed are removed. Force majeure cannot be selectively applied to customers, concluded the NOC public information notice.

The dollar will sharply collapse

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In a declaration to “Sada” economic newspaper, a foreign exchange dealer emphasized that a sharp fall in dollar prices will occur, decreasing from 4.29 to reach 4.24 this afternoon.

He also added that the reason for the dollar’s fall is that some banks opened up their services of the 10 thousand dollars cards (Visa cards or Mastercards used to grant $10,000 to all bank customers).

The dollar’s prices are volatile as a result of the country’s security situation resulted from shutting oilfields and ports, along with the ongoing war in Tripoli.

Germany will hold a second meeting on Libya

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German Foreign Minister, Heiko Maas claimed that his country is willing to hold a second meeting next month in Berlin, at the level of foreign ministers.

Maas clarified in a statement that the meeting will follow up developments in the Libyan file. “This comes to enhance the European Union’s participation in building a better future for Libya”, he added.

A humanitarian airlift to Ghadamis

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The Algerian Red Crescent announced the launch of a solidarity campaign with the Libyan people, through establishing a humanitarian airlift provided by the Algerian army to Ghadamis.

In a statement issued yesterday, the Red Crescent explained that this process falls within the initiatives of the President of Algeria to give a hand to Libyans in order to overcome the difficult circumstance they are experiencing.

The aid includes 100 tons of food, medicine, clothing, tents and generators.

EU: the International Law of the sea should be respected

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The Europea Union urged Turkey to drop plans to drill for oil and gas around Cyprus and the eastern Mediterranean, claiming that such exploration is “illegal”. President Recep Tayyip Erdogan  vowed Thursday that Turkey will start exploring for gas in the eastern Mediterranean.

“The International Law of the sea, the principle of good neighbourly relations and the sovereignty and sovereign rights over the maritime zones of all Member States have to be respected,” the EU statement clarified.

Turkey: Gas explorations in the Mediterranean

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Turkish President Tayyip Erdogan announced that his country will begin as soon as possible explorations for gas in the eastern Mediterranean this year.

“We will start search and drilling activities as soon as possible in 2020 after issuing licences for the areas,” Erdogan announced during a two-hour speech in the Turkish capital.

Erdogan claimed that it is “no longer legally possible” for any search and drilling activities by other countries or a pipeline without Libya’s or Turkey’s approval.

Erdogan’s remarks came days before a key conference on Libya’s crisis in Berlin.