The UN helps Libyan groups come to an agreement to work together on running the Central Bank, with the goal of making the economy more stable and bringing the country closer together.
The United Nations has successfully helped Libya’s warring groups agree on how to fix their Central Bank crisis.
This big deal is a step towards healing the country, which has been torn apart by war. The fight over who controls and runs the bank is a big deal because it’s key to getting Libya’s economy back on track and making sure public money gets where it’s supposed to.
The Central Bank of Libya (CBL) has been the main point of disagreement between the eastern and western governments, each supporting different leaders for the bank.
This split has caused problems like conflicting rules and a lack of clear financial leadership, making life harder for regular Libyans.
UN hosts talks on Libyan central bank crisis
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The appointment of the institution’s governor has sparked disagreement between the African country’s rival governmentshttps://t.co/Y0Kli8jGKS pic.twitter.com/mWJ73bIAIS
After weeks of hard talks, the UN helped both sides agree on a short-term plan to manage the Central Bank together.
This is a big deal because it’s a step towards bringing together Libya’s scattered financial groups, which have been split since the civil war started in 2014.
The UN’s special envoy to Libya, Abdoulaye Bathily, was key in making this happen. He said this deal is important for starting bigger peace efforts, pointing out that fixing the economy is crucial for lasting peace in Libya.
Under this deal, the Central Bank will be looked after by a joint committee made up of people from both the eastern and western sides.
This group will handle the bank’s daily work, make decisions about money, and make sure oil money is shared fairly across the country.
People watching this from outside Libya are happy about this move, seeing it as a good step towards solving Libya’s long-running problems.
But, there are still big challenges like making sure everyone follows through and building trust between the groups.
Libyans, tired of fighting and economic troubles, are hopeful that this agreement will really make a difference in their lives.
The world community, including important groups like the European Union and the African Union, has backed the UN’s work and asked everyone to stick to the agreement.
As Libya tries to find its way to peace, fixing the Central Bank crisis is a big deal for moving forward with healing the country and building its government.
