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The House of Representatives refers the draft law with its observations to the Legislative and Financial Committee to prepare the law within a month from its date

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The House of Representatives, headed by Aguila Saleh, resumed its official session today, Tuesday, at its headquarters in the city of Benghazi, devoted to discussing the unified salary law, in the presence of the First Deputy Speaker of Parliament, Fawzi Al-Nuwairi.

Aguila stressed that setting the minimum wage came in response to the citizens’ demands, given the high cost of living, as well as the low salaries of a large number of workers.

The Council also proceeded to discuss the articles of the draft law by emphasizing that the minimum wage approved by the Council in the previous session at a value of 1,000 Libyan dinars includes all workers, whether in the public sector or the private sector, and also the necessity of setting an upper limit for wages within the unified salary bill.

The draft law added to the need to review the first table in terms of salaries received and restructuring the administrative apparatus and looking into it and notifying the government in this regard.

The House of Representatives approved referring the draft law with the notes to the Legislative Committee of the House of Representatives and the Finance Committee to amend the wording and review the technical notes to prepare the law within a month from its date. 

Al-Mangush signs a memorandum of cooperation between the Serbian Academy and the Institute of Diplomatic Studies with her Serbian counterpart

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On Sunday, the Minister of Foreign Affairs of the Government of National Unity, Najla Al-Mangush, signed with her Serbian counterpart, Nikola Silakovic, a memorandum of cooperation between the Serbian Diplomatic Academy and the Institute of Diplomatic Studies, in order to prepare cadres capable of giving and making a qualitative shift for Libyan diplomacy, in addition to preparing cadres that are qualified, theoretically and practically.

Nikola stressed his country’s support for the efforts of the national unity government in imposing security and stability, leading to presidential and parliamentary elections according to a correct constitutional rule, and the readiness of the Embassy of the Republic of Serbia to be reopened in Libya.

Al-Mabrouk participates in the periodic meeting of the governors of African countries in the World Bank Group

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Today, Monday, the Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, participated in the periodic meeting of governors of African countries in the World Bank Group in the American capital, Washington, with the President of the World Bank Group, David Malpass, in the presence of a number of finance ministers of African countries.

During his speech at the meeting, Al-Mabrouk stressed that Africa is the least polluter compared to the rest of the world’s continents, and is the most affected by climate change.

Development institutions should assist the African continent to mitigate the effects of climate change on the continent’s population, especially with regard to combating desertification and addressing the causes of water scarcity, especially the World Bank and the International Monetary Fund.

Al-Kabeer rejects the decision of the Central Bank Board of Directors to reduce the official exchange rate to 4.26 dinars to 1 dollar

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The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, rejected the decision of the Central Bank’s board of directors to reduce the official exchange rate to 4.26 dinars to the dollar, which was supposed to be applied from today, Sunday, and continue to work at the previous rate, as the official dollar exchange rate in the Central Bank today reached 5.05 dinars. 

This came after a decision was issued by the Board of Directors of the Central Bank of Libya last month regarding the amendment of the exchange rate to 4.26.

Al-Huwaij discusses aspects of cooperation and strengthening economic and trade relations with the Deputy Ambassador of the UK to Libya

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Today, Sunday, Minister of Economy and Trade, Muhammad Al-Huwaij, discussed with the Deputy Ambassador of the UK to Libya, Catherine Wilde, and the Commercial Attaché at the embassy, ​​​​Simon Field, aspects of cooperation, strengthening economic and commercial relations and the mechanism of networking between the private sector, providing the necessary facilities for companies and the movement of business owners in both countries.

Al-Huwaij stressed the work to prepare a memorandum of understanding between the two sides on free trade that would enhance the role of the private sector, and implement joint projects aimed at developing the infrastructure in the health sector and increasing the volume of investments and trade exchange.

This was in the presence of the Chairman of the Council of Business Owners and Chairman of the Management Committee of the Chamber of Commerce, Industry and Agriculture Tripoli, Vice Chairman of the Management Committee, Director General of the Export Development Center and Director of the Department of Foreign Trade and International Cooperation.

Al-Mabrouk participates in the periodic meeting of the governors of Arab countries with the President of the World Bank Group

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Today, Sunday, the Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, participated in the periodic meeting of the governors of Arab countries with the President of the World Bank Group, David Malpass.

In his speech at the meeting, in his capacity as Chairman of the current session of the Council of Arab Finance Ministers, Al-Mabrouk pointed to the need to provide assistance from the World Bank that countries in the region require in the areas of digital transformation, health care, education, food security and energy, and to address the increasing rise in indebtedness and job creation.

The attendees stressed the importance of enhancing the cooperation of the World Bank Group with Arab financial institutions to unify development efforts, and to enhance the Bank’s efforts in assisting the authorities of Arab countries in improving the performance of companies and government institutions.

Al-Mabrouk and Al-Kabeer participate in the annual general meeting of the World Bank Group and the International Monetary Fund for 2022

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The Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, participated on Friday in the Constitutional Hall in Washington, in the annual general meeting of the Bank and the International Monetary Fund for the year 2022, with the Governor of the Bank of Libya, Seddiq Al-Kabeer, and the finance ministers and central bank governors from around the world.

During the meeting, the course of the global economy and the successive crises that affected it and led to a marked decline in economic growth all over the world were reviewed, and the most important decisions were taken on the topics included in the agendas of the Bank and the International Monetary Fund and their role in addressing economic crises and correcting the conditions of the global economy.

It also stated among these decisions that the annual reports, financial statements and auditors’ reports of the World Bank and the International Monetary Fund be approved, as well as the adoption of the operating budget for the fiscal year 2023.

In the presence of 190 governors from the world, Al-Kabeer discusses the repercussions of the global financial crisis on the global economy and economic development

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The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, met today, Friday, in the presence of the Minister of Finance in the Government of National Unity, Khaled Al-Mabrouk, and 190 governors and Finance Ministers in 190 countries of the world.

During the meeting, the repercussions of the global financial crisis on the global economy and economic development, and the role of the International Monetary Fund and the World Bank in mitigating these repercussions, were discussed in the Constitutional Hall in the American capital, Washington, for the International Monetary Fund and the World Bank for the year 2022.

Al-Mabrouk signs the amending version of the agreement on scheduling the debt due in favor of Libya

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The Minister of Finance of the Government of National Unity, Khaled Al-Mabrouk, signed at the International Monetary Fund in Washington, the amending version of the agreement to schedule the debt due in favor of Libya with the Minister of Finance and the Governor of the Central Bank of the Republic of Nicaragua.

It was agreed that the Republic of Nicaragua signs to guarantee the recovery of the rest of the debt on a regular basis in equal semi-annual installments.

Al-Kabeer discusses with the International Monetary Fund the latest developments in the global economy, trends in energy prices and inflation

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The Governor of the Central Bank of Libya, Seddik Al-Kabeer, met today, Thursday, at the headquarters of the International Monetary Fund in the American capital, Washington, to discuss the latest developments in the global economy, trends in energy prices and inflation, and the challenges of coordination between monetary and fiscal policy, and to assess the prospects for global financial stability.

This meeting issued recommendations to reduce the repercussions of the global financial crisis on the global economy and the roles of central banks in their implementation.