Libyan parties reach agreement to end central bank crisis, UN says

Libya’s Benghazi-based House of Representatives and Tripoli’s High State Council have reached an agreement to appoint a new governor for the central bank amid a feud between the country’s two rival governments.
The UN mission in Libya said in a statement on Tuesday that the two parties “reached important understandings” on the crisis and asked for an additional period of five days for further consultations on the mechanism and timetables for the appointment of a new governor and board of directors.
“The representatives of the two chambers requested an additional period of five days to complete their consultations towards a final consensus on the arrangements of the management of the CBL [Central Bank of Libya] until a new governor and board of directors are appointed,” the statement read, without naming candidates.
The UN also called on both parties “to refrain from any unilateral decisions and actions”.
The dispute over control of the central bank has plunged Libya into a state of uncertainty after the Tripoli-based Presidential Council dismissed long-term governor Sadiq Al Kabir two weeks ago.
Major banking operations, including the wiring of salaries for at least two million public sector employees, have been disrupted and a state of force majeure has been declared by the Benghazi-based administration for most oilfields.
Since a western-backed uprising ousted dictator Muammar Qaddafi in 2011, Libya has been divided between two rival governments – one in the west in Tripoli and another in the east in Benghazi, both claiming a right to lead the country.
Ordinary Libyans have borne the brunt of the crisis, with vital services, infrastructure and purchasing power deteriorating.