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Tag: libya

Dbeibeh Inaugurates New Passenger Terminal at Mitiga International Airport

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On Tuesday, the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, inaugurated the new passenger terminal at Mitiga International Airport, with a total area exceeding 23,000 square meters, after adding about 13,000 square meters to the old terminal. The airport handles an average of around 3 million passengers annually.

Dbeibeh emphasized the need to improve the conditions of all airports in Libya, affirming that the government continues its efforts in construction and development across various sectors.

Al-Messalati Announces Resumption of Work at Sebha Oil Depot

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The official spokesperson for Brega Oil Marketing Company, Ahmed Al-Messalati, announced today, Wednesday, the resumption of operations inside the Sebha oil depot.

Al-Messalati confirmed the entry of fuel trucks carrying both types of fuel to unload their shipments of gasoline and diesel and to restore the storage capacity at the Sebha depot.

Al-Kabeer Discloses Government Threats and Expresses Willingness to Step Down if Parliament and State Council Agree

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The Governor of the Central Bank of Libya, Seddiq Al-Kabeer, stated yesterday, Tuesday, in an interview with WTV channel, that there is a group working with the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, that has no official position but holds more power than him, which is the reason for his disagreement with the government.

Al-Kabeer added that Ibrahim Dbeibeh has threatened both him and the Central Bank staff. He said that he requested the Prime Minister to grant Ibrahim an official status so they could deal with him, noting that Ibrahim is influential with the armed forces on the ground. Employees and their families were threatened and prevented from traveling, which he described as illegal behavior.

He further mentioned that currently, he is in constant communication with Aguila Saleh, Khaled Al-Mishri, and Osama Hammad, providing updates to the Speaker of the House of Representatives and the President of the High Council of State. He added that he has no communication with the Dbeibeh government. Al-Kabeer indicated that if the two councils—the House of Representatives and the State Council—agree to replace the governor, he would willingly step down. He also expressed his readiness to return to Libya soon, stating that it’s only a matter of days before he returns as governor.

Al-Kabeer emphasized that it is not the Central Bank that grants credit lines or licenses companies. He clarified, “We have a system: you submit your paperwork to the commercial bank, and if your documents are complete, the request is forwarded to the Central Bank, and we cover it.” He insisted that the Central Bank does not intervene in issuing credit lines.

He continued, “We have no connection with the parallel market, and anyone with evidence should refer to the Attorney General.” He explained that foreign currency imports were halted due to the theft of the Central Bank in Sirte. “We made several attempts, all of which failed, as Libya is considered high-risk. We fear that dollars or euros could fall into unsafe hands, which is why the activation of currency exchange companies has been prevented.” Al-Kabeer added that they are closely monitoring the market to prevent the gap between the official and parallel exchange rates from widening.

The Central Bank Governor pointed out that the oil blockade, increased spending, and the current situation do not inspire confidence among Libyans. He stressed the need for the country to diversify its sources of income and have both short- and long-term economic visions. He also expressed his view that commodity subsidies should be replaced with cash support for Libyan families.

Berndt Discusses the Central Bank Crisis with a Delegation from the Government of National Unity

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The U.S. Embassy’s Chargé d’Affaires, Jeremy Berndt, stated that he discussed the ongoing crisis surrounding the Central Bank of Libya with the advisor to the Prime Minister of the Government of National Unity, Ibrahim Dbeibeh and the Minister of State, Adel Jumaa. He emphasized the urgent need to reach a consensus through the mediation of the United Nations Support Mission in Libya, along with addressing the legitimate concerns of many Libyans about the closure of oil fields, which impacts resources belonging to all Libyan people.

Berndt added that the technocratic integrity, credibility, and legitimacy of key economic institutions are essential for Libya’s prosperity and stability. He explained that for long-term stability and development, the concerned parties must also agree on a transparent and accountable distribution of oil revenues to benefit all regions of Libya.

He concluded by saying, “I appreciate the opportunity to exchange views on ways to strengthen the partnership between Libya and the United States.”

Bloomberg: “Egypt and Turkey Pressure Libya’s Rival Governments to Reach an Agreement to End the Strangling Oil Blockade”

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The American news agency Bloomberg reported on Tuesday that Egypt and Turkey are using their newly established friendship to try to resolve the power struggle in Libya, which threatens to escalate into a civil war.

The agency added that both countries are pressuring Libya’s rival governments to reach an agreement to end the crippling oil blockade, according to officials and diplomats closely following the matter.

Belqacem Haftar: “10 Billion Dinars Allocated by the House of Representatives Insufficient for National Reconstruction”

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The Director of the Libya Reconstruction Fund, Belqacem Haftar, confirmed in media statements that 10 billion dinars were allocated by the House of Representatives for the reconstruction of Libya. He explained that this amount is insufficient to rebuild the country due to years of neglect, and the nation suffers from deteriorating healthcare and educational facilities.

Haftar clarified that the fund has worked on the renovation of Benghazi University, which had been destroyed for years, as well as the restoration of hospitals in Benghazi and other Libyan cities, focusing on the healthcare sector. They have also fully repaired electricity stations. He highlighted the significance of the Sebha conference, especially regarding the deliberate neglect of the southern region by successive governments for years.

He added that, for the first time in Libya, reconciliation was achieved between the residents of Tebu and Murzuq, who had been in conflict for five years, and the city had been entirely displaced. All destroyed homes were repaired.

Haftar emphasized complete transparency, with full oversight by the Audit Bureau, ensuring that all contracts are legally followed and everything is publicly disclosed.

He concluded by stating that there are no deals with Russia or China.

Al-Kabeer: “Central Bank Management’s Statement is Deceptive, Public Debt Cannot Be Settled with a Stroke of a Pen”

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In his statement No. 19, Governor of the Central Bank of Libya, Seddiq Al-Kabeer, revealed that the statement issued by the bank’s management, which was appointed by the Presidential Council and, according to him, falsely claims authority, is a misleading statement aimed at deceiving public opinion.

Al-Kabeer pointed out that there are several inaccuracies in the statement issued by the management, including the concealment of existing obligations from the foreign currency usage schedule. The statement itself estimated these obligations in paragraph 11 to be worth $6.12 billion, despite the fact that they are ongoing commitments that the central bank must fulfill upon their due dates, highlighting the deliberate attempt to mislead and conceal facts.

The Central Bank Governor emphasized that public debt settlement “cannot be done with the stroke of a pen,” as it is the responsibility of both the executive and legislative authorities, following specific procedures. He added that what was stated in the management’s statement is nothing more than an attempt to deceive public opinion and could be a dangerous indicator, possibly aimed at concealing certain amounts.

Al-Kabeer also noted that it is unreasonable to publish statements about the Central Bank’s monthly profits before those profits are reviewed and approved by the Audit Bureau, let alone acting upon those profits.

He referred to the last statement he issued on July 31, 2024, asserting the utmost accuracy of all the information contained therein, and clarified that its validity can be confirmed by the Audit Bureau.

Al-Kabeer warned that the inaccuracies in the statement issued by the management appointed by the Presidential Council could damage the reputation of the bank, as they are a deliberate attempt to deceive public opinion and distort facts and figures. He held the management and all those behind it fully responsible for this deception and distortion.

Al-Habrat Comments on Central Bank’s $2.7 Billion Foreign Currency Deficit Statement: “Accurate Accounting, but Economic Reality is Quite Different”

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Economic expert, Nour El-Din Al-Hbarat, commented on the Central Bank management’s statement, appointed by the Presidential Council, regarding a foreign currency deficit of $2.7 billion. He noted that this statement only includes the foreign currency amounts that have actually been received or paid, which is accurate from an accounting perspective. However, there is no deficit in the balance of payments in the statement released by Al-Kabeer amounting to $9.1 billion.

Al-Hbarat explained that the first reason is that the value of previous commitments to public entities appeared in the balance of payments at the end of 2023 and thus should not be carried over or re-shown in the 2024 balance of payments. The deficit for that year is deducted from the foreign reserve value. The second reason is that if these commitments have not yet been paid, they should not be included in the balance of payments for the previous or current year under uses.

Al-Hbarat added that while the new Central Bank statement is accurate from an accounting perspective, the economic situation is entirely different. Announcing no deficit in the balance of payments might encourage the government to expand public spending and increase the money supply. This could lead to greater use of foreign currency in a country that relies almost entirely on imports for its goods and services. Such a scenario would likely increase demand for foreign currency, leading to a rise in the dollar exchange rate, higher inflation rates, and liquidity shortages, especially given the volatility of global oil prices, Libya’s sole source of foreign currency.

Central Bank Management Appointed by the Presidential Council Releases Monthly Revenue and Expenditure Statement from January to August

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The management of the Central Bank of Libya, appointed by the Presidential Council, has released its monthly statement of revenue and public expenditure for the period from January to August of this year. The statement reveals that revenues exceeded 66 billion dinars, while public expenditure totaled 59 billion dinars over the past eight months, resulting in a surplus of 7.1 billion dinars.

The statement also detailed the expenditure for the Government of National Unity, which amounted to more than 1.54 billion dinars over the past eight months. Expenditure for the Presidential Council reached over 321 million dinars, while expenditure for the House of Representatives exceeded 707 million dinars.

UN Mission: “We Regret That the House of Representatives and the High Council of State Representatives Have Not Reached an Agreement on the Central Bank”

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The United Nations Mission expressed regret in its statement regarding the consultations on the Central Bank, noting that the representatives of the House of Representatives and the High Council of State have not yet reached a final agreement. The Mission welcomes the principles, standards, and timelines that should govern the transitional period leading to the appointment of a new governor and board of the Central Bank.

The Mission urged the parties to prioritize the supreme interest of Libya and remove the Central Bank from political conflicts, reiterating that unilateral decisions taken by various parties across the country could undermine trust among political and security actors and entrench institutional divisions.

The Mission added that meaningful and inclusive dialogue remains the only way to achieve consensus among Libyans, break the cycle of transitional phases, and bring Libya to sustainable peace and stability.