Libya's Central Bank Governor Naji Issa and Prime Minister Abdel Hamid Aldabaiba have reiterated their commitment to the US-brokered Unified Spending Agreement, aiming to strengthen fiscal and monetary coordination and ensure compliance with agreed financial measures.
The Governor of the Central Bank of Libya (CBL), Naji Issa, met with Prime Minister Abdel Hamid Aldabaiba in Tripoli to review the country's economic and financial situation. The meeting, attended by the Minister of Transport and the Minister of State for Communication and Political Affairs, focused on enhancing coordination between fiscal and monetary policy as Libya seeks to stabilise its public finances.
Discussions centred on monitoring public revenues and expenditures, as well as reviewing the implementation of the US-brokered Unified Development (Spending) Agreement. Both sides assessed compliance with the agreement's provisions and identified areas where implementation has fallen short.
Government Signals Support for Unified Spending Framework
According to the Central Bank, Prime Minister Aldabaiba reaffirmed his government's support for the Unified Development Agreement and pledged full commitment to its implementation. He emphasised the need to address any shortcomings in the process to ensure the agreement's objectives are met, highlighting the importance of transparency and accountability in public spending.
Continued Coordination to Support Economic Stability
Participants in the meeting underlined the necessity of ongoing coordination between the Central Bank and the government. They agreed to maintain close monitoring of agreed measures to support Libya's financial and economic stability, with the aim of serving the public interest and reinforcing institutional cooperation during a period of fiscal pressure.
