According to the Central Bank of Libya (CBL), the CBL and IMF discussed the pivotal role played by the CBL to get Libya out of its decades-long monetary and economic crisis.
The discussions took place on the sidelines of the attendance by Naji Issa, the Governor of the CBL, and his accompanying delegation, of the Annual Meetings of the IMF and the World Bank held this week in Washington, D.C. (13 to 18 October)
The discussions were during Issa’a first meeting last Monday (13 October) with Jihad Azour, Director of the Middle East and Central Asia Department at the IMF, and his accompanying team.
During the meeting, the two sides discussed the latest developments in the economic and financial situation in Libya and the pivotal role played by the CBL to get the country out of its decades-long crisis.
The CBL reported that the Governor also gave a briefing on the efforts of the CBL in addressing the economic crisis, as well as its vision for the next stage, and how a series of monetary treatments will be carried out without directly affecting the living conditions of Libyan citizens.
For his part, according to the CBL, the Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) and his accompanying team of experts, praised the Central Bank’s efforts and tactics to manage the crisis.
They said this management has begun to show signs of success successively in the measures it carried out through the launch of several initiatives, and reaching a consensus from the concerned parties to set a unified budget for the coming year and agree on structural reforms that lead to a gradual appreciation of the value of the Libyan dinar against foreign currencies.
In conclusion, the attendees stressed the need to support the Governor, his Board of Directors and the Central Bank in the success of its initiatives locally and internationally.
