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)
TT

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.



Jordan Prime Minister Submits Resignation Days after Election

 Electoral workers count votes at a polling station after voting ended during parliamentary elections in Amman, Jordan September 10, 2024. (Reuters)
Electoral workers count votes at a polling station after voting ended during parliamentary elections in Amman, Jordan September 10, 2024. (Reuters)
TT

Jordan Prime Minister Submits Resignation Days after Election

 Electoral workers count votes at a polling station after voting ended during parliamentary elections in Amman, Jordan September 10, 2024. (Reuters)
Electoral workers count votes at a polling station after voting ended during parliamentary elections in Amman, Jordan September 10, 2024. (Reuters)

Jordan's Prime Minister Bisher Khasawneh submitted his resignation on Sunday less than week after parliamentary election that saw some gains for the Islamist opposition.

The new composition of the 138-member parliament retains a pro-government majority, but a more vocal Islamist-led opposition could challenge IMF-led free-market reforms and foreign policy.

Jordanians went to the polls Tuesday in a parliamentary election overshadowed by the war in Gaza and concerns over a slump in tourism, a sector vital to the kingdom's economy.

It was the first vote since a 2022 reform increased the number of seats in the house, reserving more for women and lowering the minimum age for candidates.