The Prime Minister of the Government of National Accord, Fayez Al-Sarraj, held a meeting with the heads of the High Council of State (HCS), the National Oil Corporation (NOC), the Central Bank of Libya (CBL), the Supreme Judicial Council (SJC), the Administrative Control Authority and the Ministry of Finance. During the meeting, they discussed the repercussions and implications of the freezing of oil revenues.

The attendees agreed on activating a joint committee, which includes the Audit Bureau, the Ministry of Finance, the CBL and representatives of the eastern-based Ministry of Finance in order to coordinate matters related to public finance.

The attendees also called for a subsequent meeting for the board of directors of the Central Bank to find solutions to the issues facing Libya’s economy, urging to discuss mechanism to unfreeze oil revenues and bring things back to normal with an active control and transparency roles.

The meeting touched on the mechanisms to lift the existing freezing of revenues and return operations to normal. The participants emphasized the activation of monitoring mechanisms, and their commitment to transparency standards.