The House of Representatives voted unanimously to appoint “Naji Belkacem Issa” as governor of the Central Bank of Libya and “Marai Muftah Al-Barasi” as deputy governor.
Regarding this decision, businessman Hosni Bey told the “Libya Eye” network: “The mistakes of the past resulted in what can now be described as (correct), as the agreement on the central bank is in line with the entire provisions of the interim constitution, the political agreement, and the Bank of Libya Law 1/2005, amended by Law 76.” /2013”.
Hosni Bey added: “We are all confident that within a week and after Governor Naji Issa is sworn in, the governor will propose the rest of the members to the Board of Directors and we will achieve consensus on the completion of a quorum for the Board of Directors of the Central Bank of Libya. We are confident that the names of candidates will be put forward and the six and complementary members will be chosen from independent, technocrats.” I also hope that the majority of members will be economists.”
The businessman continued: “We hope that the integrated board of directors will take the necessary monetary policies to reduce the dinar, enhance the general price rate, support purchasing power, and curb inflation that has exhausted the nation and the citizen during the last ten years.”
He added: “Adopting stable and transparent monetary policies produces and creates a secure climate for investment, including real economic growth away from oil. We also hope that the elected Board of Directors will consult, give advice and coordinate with the rest of the executive authorities, including the government through the Ministries of Finance and Economy.”
Hosni Bey continued: “It never occurred to us, nor did we believe, that a mistake would be corrected with a mistake like it, but this is what actually happened after ten years, a free collapse, as the dinar slid from 1,400 DL/$ to 6,150 DL/$ due to the creation of money from nothing, despite Reserves increased from 65 billion in 2015 to nearly 90 billion in the third quarter of 2024.”
He added: “The collapse was the result of the division and the decisions that were taken through the most important sovereign institutions (the Central Bank of Libya)… The bank, since 2014, has been managed at times through a council divided in the east and west, and at times through complete authority limited to one person, or in the last period, consisting of two people in charge. With the full powers of the Board of Directors.”
Hosni Bey continued: “The approval of legitimacy is today, September 30, 2024, in the presence of a majority, including a quorum, of members of the House of Representatives. Through this, the full legitimacy of the governor and the deputy was crowned, as Naji Issa was chosen as governor and Marai Al-Barasi as deputy governor, with all the mechanisms of legitimacy.”
Businessman Hosni Bey concluded by saying: “We thank everyone for achieving what is right despite the mistakes that occurred.”
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2024-10-01 17:20:32