No Result
View All Result
Monday, September 25, 2023
24 °c
Tripoli
24 ° Tue
24 ° Wed
25 ° Thu
25 ° Fri
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

The Economic Working Group Co-Chairs call for a Libyan negotiated solution that addresses its deepening economic crisis

bySami Zaptia
December 2, 2020
Reading Time: 2 mins read
A A
13
SHARES
56
VIEWS
Share on FacebookShare on Twitter

By Sami Zaptia.

London, 2 December 2020:

The Economic Working Group (EWG) co-chairs of the International Follow Up Committee for Libya, including Ambassadors of Egypt and the United States, the European Union, and the Acting Special Representative of the Secretary-General Stephanie Williams, as well as representatives of the Libyan Economic Experts Commission, met yesterday to discuss the deepening economic crisis, UNSMIL reported.

Participants agreed that the Libyan people should have confidence that oil and gas revenues are managed transparently and in the public interest, and any actors who would seek to undermine that confidence should be held accountable.

RELATED POSTS

UNSMIL head Bathily calls on polarised Libyan political entities to follow their citizen’s lead by unifying post the Derna disaster

Eastern Libyan government calls for international reconstruction conference for Flood Daniel hit areas

A new consensus arrangement is therefore needed to set Libya on the path toward political stability, economic recovery, and collective prosperity.

To this end, the EWG said it supports UNSMIL’s efforts to swiftly convene a meeting of senior technocrats and decision-makers from Libyan economic and political institutions to agree on a series of immediate measures to be taken. Among these measures, Libyan experts have identified the need to convene a CBL Board meeting at the earliest opportunity to, in particular, unify the exchange rates and address the deteriorating banking crisis. The co-chairs of the EWG also fully support the need for identifying solutions to address Libyan concerns of transparent and equitable management of revenues.

To protect Libyan wealth in the interim, the EWG co-chairs voiced support for the National Oil Corporation in its responding to calls by the Libyan public to freeze oil revenues under apolitical management as an exceptional and temporary measure until a more durable economic arrangement is negotiated among Libyan parties either on an initial interim basis or in the longer-term context of the Libyan Political Dialogue Forum.

Until such an arrangement is achieved, Libyan foreign reserves remain adequate to provide for the critical expenses of the 2021 budget, including wages, subsidies, and public services required by all Libyans, the statement read.

 

Agreement reached by Libya’s main stakeholders to resolve frozen oil revenues issue | (libyaherald.com)

 

The CBL-NOC tug-of-war on authority over Libya’s oil revenues continues | (libyaherald.com)

 

NOC strongly refutes CBL claim of inaccurate oil revenue data | (libyaherald.com)

 

LD 22 bn CBL loan to cover budget deficit to 31 October 2020 | (libyaherald.com)

 

New Libya Foreign Bank General Assembly meets to choose new Board of Directors – against CBL wishes | (libyaherald.com)

 

Maetig publishes details of ‘‘agreement’’ with Hafter for resumption of oil exports | (libyaherald.com)

 

The Maetig-Hafter proposal to resume oil exports: Analysis | (libyaherald.com)

 

NOC confirms resumption of operations at ‘safe’ ports of Hariga and Brega oil ports, other ports to resume soon, production estimated at 260,000 bpd next week | (libyaherald.com)

 

Hafter announces he will permit restart of oil production and exports, but fails to withdraw forces and mercenaries from oilfields | (libyaherald.com)

 

 

 

 
Share5Tweet3Share1

Related Posts

UNSMIL: Warring parties invited to begin negotiations on 29 September
Libya

UNSMIL head Bathily calls on polarised Libyan political entities to follow their citizen’s lead by unifying post the Derna disaster

September 24, 2023
Libya’s eastern government meets Egyptian companies to discuss post Storm Daniel reconstruction
Libya

Eastern Libyan government calls for international reconstruction conference for Flood Daniel hit areas

September 24, 2023
Al-Ruqaii seizure violates human rights, says Amnesty International
Libya

Eastern Libya authorities must lift restrictions on journalists: Amnesty International

September 22, 2023
Providing psychosocial support to the thousands affected by Storm Daniel is a priority: UN
Libya

Providing psychosocial support to the thousands affected by Storm Daniel is a priority: UN

September 22, 2023
After the Derna dams disaster, dams in Benghazi and Sirte receive attention
Libya

After the Derna dams disaster, dams in Benghazi and Sirte receive attention

September 22, 2023
Minister of Local Government meets German and Italian ambassadors to discuss Flood Daniel aid and reconstruction
Libya

Minister of Local Government meets German and Italian ambassadors to discuss Flood Daniel aid and reconstruction

September 21, 2023
Next Post

October cost of Libya’s Minimum Expenditure Basket increased by 4.3%, rents down, liquidity problems continue - report

Italian language to be taught at Libyan Secondary school as of 2020/21 year - Italy to train teachers

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Derna disaster update: Five Greek aid workers die in road accident, Spanish and Maltese teams return home

    Derna disaster update: Five Greek aid workers die in road accident, Spanish and Maltese teams return home

    97 shares
    Share 39 Tweet 24
  • UN’s Derna overview: Officially, only 3,958 confirmed dead and 40,000 displaced

    71 shares
    Share 33 Tweet 16
  • EU Copernicus satellite images of Flood Daniel hit Libya released

    54 shares
    Share 25 Tweet 12
  • Derna update: International aid continues to arrive, infrastructure damage update

    49 shares
    Share 21 Tweet 12
  • Civil Aviation Authority concludes meetings with Turkish Civil Aviation team inspecting airports for possible return of Turkish airliners

    53 shares
    Share 25 Tweet 12
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

UNSMIL head Bathily calls on polarised Libyan political entities to follow their citizen’s lead by unifying post the Derna disaster

Eastern Libyan government calls for international reconstruction conference for Flood Daniel hit areas

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?