The International Crisis Group said that reaching a preliminary agreement to settle the dispute over the leadership of the Central Bank of Libya constitutes a major achievement, considering that the dispute over the Central Bank has not yet ended, she said.
The Crisis Group added that the competing parties have a common interest in avoiding a sharp deterioration in living conditions, which could lead to popular protests or violent unrest, as it described it.
The Crisis Group indicated that the various parties should work in good faith, and with the assistance of the United Nations, to implement the agreement by allowing the new governor to take over the management of the Central Bank and appoint members of the Board of Directors, to prevent economic collapse, she said.
The group explained that reconnecting Libya with global financial circles is crucial, noting that this should only be done through arrangements that include all major political forces in the country and respect the agreements that have already been reached, it said.
The working group stressed that the cost of separating from the global financial system would be enormous for the Libyan authorities and citizens alike, as it put it.
Source: International Crisis Group
2024-10-05 17:20:20