The US State Department’s 2024 annual financial transparency report revealed that Libya has failed to meet the minimum financial transparency requirements according to the standards applied in this global report issued by the “US Congress,” as has been the case in previous years.

The State Department stated that it continues to urge Libyan leaders to ensure public funds are spent transparently and accountably by reaching a compromise on the fair distribution of Libya’s oil revenues, developing a unified budget, and publicly disclosing information on how public revenues are used.

The US State Department emphasized that these priorities have become more urgent than ever due to the current crisis faced by the Central Bank of Libya.