Al-Qubba—The Speaker of the Parliament Agila Saleh and Governor of the Central Bank of Libya (CBL) Naji Issa met Thursday in Al-Qubba city and dealt with the need to control and unify public spending and achieve financial and banking stability.
The meeting also addressed several issues, most notably the country’s economic and financial situation and ways to resolve some bottlenecks, according to a statement published on the Central Bank’s Facebook page.
The statement added that the meeting emphasized “the need to preserve foreign exchange reserves and achieve financial sustainability for the state, as well as the importance of continuous communication with the Speaker of the House of Representatives.”
Effort by the Central Bank to develop the banking sector and services were also discussed including the electronic payment systems and the need to issuing a number of new laws by the Parliament related to the banking sector and to ensure financial and banking stability.
In February, the Central Bank’s board of directors agreed in a rare meeting held in Derna city in eastern Libya to communicate with the relevant authorities to approve this year’s budget in accordance with a law issued by the House of Representatives.
A unified budget and unified spending is a necessity for Libya to bring about financial stability. The United Nations and the international community have been calling on Libyan political parties to agree on that as soon as possible.