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Extended meeting recommends search for mechanism to lift freezing of oil revenues in Libya

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Tripoli, Libya, December 2 (Infosplusgabon) - A meeting presided by Fayez Al-Sarraj, chairman of the presidential council of the Libyan Government of National Accord, Tuesday recommended mechanisms for lifting the ongoing freeze of oil revenues by reverting to the old order.

 

 

 

He also stressed the need to insist on the activation of the control mechanisms and respect for commitment to disclosure and transparency norms.

 

In a statement, the presidential council said during the meeting, they agreed to activate the role of the committee to coordinate issues related to public finances to materialize the higher interests of the country.

 

The committee comprises the audit office, ministry of Finances, Libyan central bank and representatives of the ministry of Finances from the eastern region.

 

The meeting indicated its pleasure with the holding shortly of a meeting of the board of directors of the Libyan central bank to provide emergency solutions to the problems of the national economy.

 

The meeting reaffirmed the need to urge the members of the political dialogue in Tunisia and the meetings of the Chamber of Representatives (Parliament) and the High Council of State in Morocco to consider the higher interests of the nation as against personal, partisan and regional interest.

 

This is to enable them to reach consensus that serves the interests of the nation to end the fragmentation and division in the country.

 

The meeting was held following mutual accusations between the NOC chairman, Mustapha Sanalla, and the Governor of the Central bank, Seddik Al-Kebir.

 

Sanalla criticized the "lack of transparency" in the expenditure of the Central bank about the oil revenues over the last period, underlining that the holding of funds from oil receipts by the oil company at the Libyan foreign bank would continue “until there is unique exchange rates" for the dinar compared to other currencies.

 

Al-Kabir described the data of the oil company on revenues as “incorrect and do not enable to establish link between oil and gas exports and revenues provided to the public treasury, in violation of the demands for transparency and divulgation".

 

FIN/ INFOSPLUSGABON/KLO/GABON2020

 

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