UNSMIL convened yesterday a meeting of 19 Libyan economic experts representing the main Libyan financial and economic institutions as well as the different economic sectors.
The experts, who took part in the meeting, were selected based on their capacity to represent interests from across the Libyan political and geographic spectrum.
As they agreed that the Libyan economy was under duress due to the institutional fragmentation caused by the conflict and that this was having an increasingly detrimental impact on the daily lives of Libyans.
It was also admitted that any comprehensive political settlement would require a mechanism to unify financial and economic policy and institutions too.
The participants discussed a proposal to establish a Libyan Expert Economic Commission (LEEC). This proposal was initially developed for the National Dialogue and has now was introduced in the Berlin process. Participants provided input on the prospective Terms of Reference of the LEEC including ideas of its purpose and structure.