Egypt has welcomed an agreement between the Libyan House of Representatives and the State Council to resolve the Central Bank of Libya crisis, appointing Naji Mohamed Issa Belqasem as governor. The Egyptian Foreign Ministry emphasizes the potential for stability in Libya and reaffirms its commitment to collaborative support.
On September 30, 2024, Egypt expressed its approval of a recent agreement reached between the Libyan House of Representatives and the State Council, facilitated by the Acting Head of the United Nations Mission in Libya. This agreement seeks to resolve the ongoing crisis surrounding the Central Bank of Libya. As part of this accord, both political entities have appointed Naji Mohamed Issa Belqasem as the new governor of the Central Bank. The Egyptian Ministry of Foreign Affairs released a statement indicating its optimism regarding this development, suggesting it may create the momentum necessary for achieving broader stability in Libya. Egypt reaffirmed its dedication to supporting these transitional efforts in concert with both regional and international partners, underscoring the importance of empowering the Libyan populace and meeting their aspirations. Recently, Libya has experienced turmoil concerning the appointment of a new governor for the Central Bank, amid a power struggle between the government based in Tobruk, led by Khalifa Haftar, and another in Tripoli, headed by Abdul Hamid Dbeibah. This conflict led to a suspension of oil production in Libya, significantly impacting global oil markets and contributing to rising oil prices worldwide. The UN proactively engaged in hosting several discussions and meetings to bridge the divide between the competing factions, culminating in this pivotal agreement.
The crisis involving the Central Bank of Libya has been a significant concern for the nation, especially as tensions escalated between two competing governments—the one based in Tobruk and the other in Tripoli. This division has severely affected the administration of key financial institutions and the country’s oil production, which is vital for the Libyan economy and global oil supply. The leadership conflict not only destabilizes the Libyan economy but has also led to considerable international concern as fluctuations in oil production affect the global market. The UN’s involvement exemplifies the attempts made to foster communication and resolution between these rival factions, aiming to restore stability and address the pressing economic issues facing Libya.
In summary, Egypt’s endorsement of the agreement between Libya’s rival political bodies marks a hopeful step towards resolving the ongoing crisis at the Central Bank of Libya. The appointment of Naji Mohamed Issa Belqasem as the new governor, coupled with international support, aims to restore stability in Libya and empower its citizens amidst a challenging economic landscape. Continued cooperation among regional and international stakeholders will be essential in fostering a sustainable solution to Libya’s pressing challenges.
Original Source: www.egypttoday.com
