A joint working group is to be formed between the Central Bank of Libya (CBL) and the Administrative Control Authority (ACA) to implement their recommendations of a package of proposed economic reforms.
The revelation came after yesterday’s meeting between Naji Mohamed Issa, the Governor of the CBL, and Abdullah Gaderbo, the President of the ACA, in the presence of several directors of the concerned departments and offices from both parties.
Getting Libya out of its economic crisis
During the meeting, the two sides discussed the general economic situation of Libya and exchanged views on the CBL’s vision to get Libya out of its economic crisis by reviewing macroeconomic indicators, the proposed economic reform package, and the ACA’s 53rd Annual Report of 2023 and its statistics, financial and administrative data and observations.
ACA’s oversight role
The Governor stressed the importance of the oversight role of the ACA in following up on the sectors in the country in light of the cooperation and pivotal role through its contribution to pushing towards the implementation of the proposed reform package and measures at the level of monetary, financial and trade policies.
For his part, the ACA’s Chairman affirmed the Authority’s readiness to provide its full support to the efforts of the CBL in moving forward towards implementing the CBL’s vision in launching a package of proposed economic reforms, such as unifying government spending, and other reforms to serve the interest of the citizen in receiving basic services with high quality.
In conclusion, the two parties agreed on the need to form a joint working group to implement the recommendations and outputs of the meeting.
The meeting also witnessed the handover ceremony of the Authority’s 53rd annual report for the year 2023.
