Libya’s Presidential Council and Central Bank agree to soon instate economic reforms

The Governor of the Central Bank of Libya (CBL) Al-Seddiq Al-Kabeer met in Tripoli on Wednesday with the Head of the Presidential Council Fayez Al-Sirraj and discussed the ways by which the package of economic reform will be implemented in Libya. 

The two officials agreed, according to Al-Sirraj’s media office, on carrying out the reforms soon in the coming period to help save the ailing economy in the country.

The CBL governor said the CBL is ready to implement the reforms and told Al-Sirraj they will do all it takes to alleviate the current suffering of the Libyan people.

The Libyan central bank, Presidential Council and other state institutions agreed in June this year in Tunisia on carrying out economic reforms to help Libya and the Libyan people.

The reforms include changing the official dinar exchange rates to fight the black market, end fuel subsidies and double the 500 dollars of the families’ allocations by the bank.