Central Bank Crisis Reveals Structural Defect in Libya's Political Landscape

Central Bank Crisis Reveals Structural Defect in Libya's Political Landscape
Disputes over power and constitutional issues form a major obstacle to achieving stability in Libya, necessitating effective international intervention to break the ongoing conflict cycle
October 9, 2024, 9:38 pm

ليبيا \ تعبيرية \ متداول

Stephanie Khoury, Acting Head of the United Nations Support Mission in Libya, stated that the recent crisis at the Central Bank has highlighted the fragility of the country's political process and the depth of division plaguing state institutions. She emphasized the need to end this deteriorating situation.

In her briefing to the UN Security Council on Wednesday, Khoury reported that unilateral actions by Libyan political parties "led to instability and had negative repercussions on the general situation in the country."

Recently, the Presidential Council's decision to change the governor of the Central Bank in Tripoli sparked a political dispute that led to the closure of oil facilities and the cessation of production and export operations. However, these tensions ended after reaching an agreement on appointing new leadership for the bank.

In this regard, Khoury appealed to Libyan leaders to take additional steps following the resolution of the Central Bank crisis and to cooperate in reaching a comprehensive political settlement in a spirit of consensus, aiming to ensure the independence of state institutions and avoid exploiting the country's resources for political gains.

The UN envoy addressed the ongoing disputes and conflicts over power and constitutional issues, such as the parliament's demand to dismiss the Government of National Unity and the issue of establishing a constitutional court in Benghazi, considering these actions as a source of tension in the country that deepens existing divisions.

Khoury affirmed that "the current situation has dragged on for too long, and the Libyan people deserve better than this," calling on the international community and the United Nations to make efforts to manage the crisis in Libya and reach a radical and comprehensive solution in the country.

For some time, the political process in Libya has faced a state of stagnation, with failure to reach a solution due to power struggles and legal disputes related to elections. This situation reveals the magnitude of challenges obstructing the path to consensus and understanding among the country's leaders and highlights the numerous obstacles standing in the way of resolving the crisis.

Levant-Agencies

Aga Khan Award for Architecture announces 2025 Master Jury Destruction of "Iran's Garden".. Israel Erases Iranian Symbols from Lebanese Border