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Tag: UNSMIL

UNSMIL Welcomes Appointment of Central Bank of Libya’s Board of Directors

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The United Nations Support Mission in Libya (UNSMIL) has expressed its support for the recent appointment of a Board of Directors for the Central Bank of Libya. In a statement, UNSMIL emphasized the importance of this step in ensuring that the bank operates with independence, integrity, transparency, and accountability. According to the Mission, a well-functioning board will enable the Central Bank to effectively manage the country’s monetary policy and contribute to its overall economic stability.

UNSMIL also urged the newly appointed leadership of the Central Bank to continue efforts toward the reunification of the institution, which has been split due to Libya’s ongoing political divisions. The Mission highlighted the need for tangible progress in this area, alongside the implementation of enhanced governance measures that include avoiding conflicts of interest.

In addition, UNSMIL encouraged the adoption of sound financial policies to ensure both financial and economic stability in Libya. These policies should be informed by the recommendations from the international financial audit of the Central Bank, which was facilitated by UNSMIL, and the consultations conducted under Article IV of the International Monetary Fund (IMF).

The Mission further stressed that the Central Bank must be shielded from political interference to maintain its credibility within the global financial system. Protecting the bank’s independence is crucial to allowing it to effectively perform its vital role in the Libyan economy, UNSMIL concluded.

This development marks an important step in strengthening the governance of Libya’s financial institutions, as the country continues to seek stability and recovery.

The UN Mission Welcomes the National Oil Corporation’s Lifting of Force Majeure on Production

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The United Nations Mission welcomed the announcement by the National Oil Corporation (NOC) on Thursday, lifting the state of force majeure on oil production. It emphasized the need for the revenues from this vital resource to be directed through the appropriate institutional framework, ultimately managed by the Central Bank of Libya.

The mission also stressed the importance of utilizing oil resources to achieve development and prosperity for the Libyan people and to ensure the country’s economic and financial stability.

Khoury: “The Agreement to Resolve the Central Bank Crisis is a Positive Step Toward Addressing Broader Issues”

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The Deputy Special Representative of the UN Secretary-General and Acting Head of the UN Support Mission in Libya, Stephanie Khoury, stated that the agreement to resolve the crisis at the Central Bank of Libya is a positive step that Libyans should build upon to solve other problems.

In statements to the government channel, Al-Watania TV, Khoury noted that the agreement was an excellent and necessary step to address the crisis surrounding the Central Bank of Libya, urging the House of Representatives and the State Council to support this step and complete the procedures for appointing the governor and his deputy, followed by the selection of the members of the Central Bank’s board of directors.

The UN envoy emphasized that Libyans can build on the agreement to resolve the Central Bank crisis to reach solutions for other issues, such as unifying state institutions, conducting elections, and other related topics.

Under UN Sponsorship: Agreement Signed between House of Representatives and State Council to Address the Central Bank Crisis in Libya

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The United Nations Support Mission in Libya announced the signing of an agreement between the House of Representatives and the State Council regarding the resolution of the crisis of the Central Bank of Libya, appointing “Naji Issa” as the governor of the Central Bank and “Marai Al-Barassi” as the deputy governor.

The mission clarified that the two parties signed the preliminary agreement regarding the procedures, criteria, and timelines for appointing a governor, deputy governor, and a board of directors for the Central Bank of Libya. It noted that it will host the final signing ceremony of the agreement tomorrow, Thursday, at its headquarters in Tripoli, in the presence of several representatives from diplomatic missions in Libya.

Nova: The UN Mission Hosts a New Meeting on the Central Bank Crisis

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The Nova agency reported that the United Nations Mission is hosting a new meeting today, Wednesday, regarding the crisis of the Central Bank. There are hopes that negotiations between the eastern-based chamber and the “Senate” in Tripoli, along with the Presidential Council, will lead to an agreement on a temporary management of the Central Bank for a period of three months and the appointment of a new governor during this time, according to parliamentary sources for the agency.

Nova clarified that the Presidential Council may agree to the proposal under the increasing international and local pressures faced by President Mohamed Al-Menfi.” In reality, the Central Bank crisis threatens to disrupt imports of essential goods and medicines, as many foreign banks have already stopped accepting transactions from the Libyan banking system.”

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.

Aguila Saleh Discusses with UN Envoy Ways to Resolve the Central Bank Crisis Based on Political Agreement Provisions

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The Speaker of the House of Representatives, Aguila Saleh, discussed with the Under-Secretary-General of the United Nations, Rosemary DiCarlo, and Deputy Stephanie Khoury, ways to resolve the crisis of the Central Bank of Libya based on the provisions of the political agreement and the Bouznika Agreement regarding sovereign positions, ensuring the avoidance of further crisis and mitigating its negative impact on the national economy and Libya’s financial situation.

Aguila Saleh emphasized that the root of this crisis lies in the Presidential Council exceeding its defined tasks and duties outlined in the political agreement and overstepping the jurisdictions of the House of Representatives and the State Council. He reiterated that the Presidential Council bears full responsibility for the breach of the Central Bank and tampering with its contents, most recently in one of its key financial and information management departments.

For her part, the UN envoy stressed the necessity of resuming the political process immediately after resolving the Central Bank crisis, to form a unified government, end the political and institutional division, and work on organizing concurrent presidential and parliamentary elections. She also praised the achievements in reconstruction, development, and national reconciliation in southern Libya.

UN Mission Announces Resumption of Consultations Tomorrow to Reach an Urgent Solution for the Central Bank Crisis

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The United Nations Support Mission in Libya announced the resumption of its consultations tomorrow to reach a final agreement to find an urgent solution to the crisis of the Central Bank of Libya, between representatives of the House of Representatives and the High Council of State on one side, and a representative of the Presidential Council on the other.

The mission confirmed that representatives of the two legislative bodies have made progress regarding the general principles governing the transitional phase leading up to the appointment of a governor and board of directors for the Central Bank of Libya.

More than 13 death sentences issued in Libya

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In a tweet, UNSMIL claimed it is concerned about recent death sentences pronounced by military courts in eastern Libya.

“We have been informed of at least 13 death sentences issued by Benghazi High Court, and 4 by an al-Bayda Court, in potential violation of Libya’s international human rights law obligations.

UNSMIL added that it is particularly concerned about reports that defendants haven’t been permitted to present their case or have evidence against them examined and that following trials, sentences have been handed down secretly w/o written, reasoned judgements provided to defendants or lawyers.