Libyan Central Bank Announces ‘Clearing’ of Public Debt

Tunisia’s Foreign Minister, Mohamed Ali Nafti meets with Stephanie Khoury, acting head of the United Nations Support Mission in Libya. (Tunisian Foreign Ministry)
Tunisia’s Foreign Minister, Mohamed Ali Nafti meets with Stephanie Khoury, acting head of the United Nations Support Mission in Libya. (Tunisian Foreign Ministry)
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Libyan Central Bank Announces ‘Clearing’ of Public Debt

Tunisia’s Foreign Minister, Mohamed Ali Nafti meets with Stephanie Khoury, acting head of the United Nations Support Mission in Libya. (Tunisian Foreign Ministry)
Tunisia’s Foreign Minister, Mohamed Ali Nafti meets with Stephanie Khoury, acting head of the United Nations Support Mission in Libya. (Tunisian Foreign Ministry)

Former Governor of the Central Bank of Libya Sadiq al-Kabir said he is confident of returning to his role at the bank, despite not providing a specific timeline.

Kabir, speaking from self-imposed exile in Istanbul, emphasized the legality of his position and accused the current administration of resorting to intimidation, including arrests and kidnappings of bank staff, to force their return to work.

Kabir also claimed that the bank’s dealings with 30 major international institutions have been suspended.

Meanwhile, the newly appointed Central Bank administration, selected by the Presidential Council, announced that Libya’s public debt has been entirely cleared, reducing it to zero.

In its monthly financial report, covering the period from the start of the year to the end of the previous month, the administration said it aimed to increase transparency and accountability in the bank’s operations.

It highlighted ongoing efforts to improve communication and ensure monetary and financial stability.

Asim al-Hajjaji, the head of compliance at the Central Bank, confirmed that the institution had regained stability with the return of all employees, Italian Nova Agency reported.

He noted that the bank is now focusing on aligning with international standards and boosting transparency, which has helped restore the confidence of international financial institutions.

The new administration is also working to re-establish ties with global banks and financial entities, he underlined.

On the diplomatic front, Tunisia’s Foreign Minister Mohamed Ali Nafti reaffirmed Tunisia’s support for UN-led efforts to resolve the Libyan crisis during a meeting with Stephanie Khoury, acting head of the United Nations Support Mission in Libya.

Tunisia offered to assist in facilitating dialogue and reconciliation efforts aimed at reaching a lasting political solution in Libya.

Khoury expressed her appreciation for Tunisia’s ongoing support and cooperation with the UN mission, emphasizing the country’s role in providing essential assistance to the mediation process.



Quintet Committee Resumes Efforts to Resolve Lebanon’s Presidential Deadlock

The ambassadors of the Quintet countries meet at the French Embassy in Beirut. (French Embassy)
The ambassadors of the Quintet countries meet at the French Embassy in Beirut. (French Embassy)
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Quintet Committee Resumes Efforts to Resolve Lebanon’s Presidential Deadlock

The ambassadors of the Quintet countries meet at the French Embassy in Beirut. (French Embassy)
The ambassadors of the Quintet countries meet at the French Embassy in Beirut. (French Embassy)

After a complete pause in efforts to resolve the vacuum in Lebanon’s presidency over the summer, the ambassadors of the international Quintet Committee resumed their meetings to help resolve the impasse, which will hit the two-year mark next month.

Saudi Ambassador to Lebanon Walid Bukhari, US Ambassador Lisa Johnson, French Ambassador Hervé Magro, Qatari Ambassador Saud bin Abdulrahman Al Thani, and Egyptian Ambassador Alaa Moussa met at the French Embassy in Beirut to discuss the situation.

Diplomatic sources, who were briefed on the meeting, told Asharq Al-Awsat that the ambassadors updated each other on the outcomes of their previous rounds of talks with Lebanese leaders and agreed to continue discussions in the coming weeks.

The sources added that French envoy Jean-Yves Le Drian will visit Beirut this month, or early October at the latest, to follow up on his meeting with Saudi Royal Court advisor Nizar Al-Aloula earlier this month.

“The participants also discussed the regional situation, emphasizing that the current developments require Lebanese officials to come to an understanding to elect a president because no one will offer them ready-made solutions,” the sources added.

While no statement was issued by the attendees, sources involved in the presidential file suggested that the ambassadors will soon resume their talks with political leaders and heads of parliamentary blocs, each separately.

The diplomats will focus on two main points: the need to separate the Lebanese presidency from the Gaza war and its outcomes, as well as from the US presidential elections, noting that Michel Aoun was elected president two months before the US elections in 2016, revealed the sources.

According to available information, the ambassadors have not yet requested any meeting with Parliament Speaker Nabih Berri or caretaker Prime Minister Najib Mikati.

Aoun’s term ended in October 2022 with political blocs failing to elect a successor. Bickering among the parties has thwarted attempts to fill the vacuum.