The Tripoli based Libyan government reported that Prime Minister Abdel Hamid Aldabaiba received at his Cabinet Office yesterday, Jeremy Berndt, Senior Advisor for Libyan Affairs at the US State Department, to discuss cooperation between Libya and the United States and ways to support efforts to unify state institutions and enhance coordination among them, contributing to the consolidation of political and economic stability.
Initialling of 4+4 Dialogue Committee agreement
Both sides expressed their support for the 4+4 Dialogue Committee agreement and its initialling, considering it a fundamental step towards completing the process leading to elections and establishing stability in the country.
Ensuring implementation of (US brokered) Unified Development Agreement
The meeting addressed the follow-up on the implementation of the (US-brokered) Unified Development Agreement and the importance of unifying efforts among relevant institutions to ensure its provisions are implemented according to regulations and priorities, thereby enhancing the efficiency of public spending and supporting economic stability.
The US-brokered Unified Development or Spending Agreement is an agreement between the divided Libya’s Western and Eastern political rulers to keep public spending within the country’s revenue constraints. The Central Bank of Libya blames this public overspending for the weak economy and weak dinar and imbalance of the country’s economy.
On 10 August, CBL Governor Issa threatened to resign over the issue sending the black-market exchange rate to LD 9.30/dollar.
Business and Economic cooperation
During the meeting, the two sides also discussed prospects for Libyan-American cooperation in the fields of energy, investment, and development, encouraging American companies to expand their presence in the Libyan market and benefit from American expertise and technology to support vital sectors.
The Prime Minister emphasized the importance of supporting partnerships between the two countries to contribute to strengthening the national economy, creating investment and employment opportunities, and improving the level of services.