The United Nations has intervened in Libya’s central bank crisis by bringing together the country’s rival factions for crucial talks aimed at stabilizing the situation and protecting key oil revenues.
Libya’s central bank headquarters in Tripoli has become the epicenter of a struggle between opposing factions. The UN organized separate meetings with each administration, which were described as having “open and candid dialogue.”
The crisis has intensified following accusations from the eastern administration that the Tripoli-based government is attempting to take control of the central bank. Tensions surged in early August when armed groups besieged the bank, demanding the removal of its governor.
Faced with threats, the governor reportedly fled the country last week. The UN reported that the negotiations in Tripoli resulted in “significant understandings” on addressing the crisis, with both sides agreeing to review and potentially finalize a draft agreement by Tuesday, as shared on social media platform.
Libya remains divided between the UN-supported government led by Prime Minister Abdulhamid Dbeibah and the rival eastern faction backed by military leader Khalifa Haftar. The central bank had halted operations on August 18 after its IT chief was abducted and later released. The eastern faction then accused a “lawless group” linked to the Tripoli government of taking over the bank, leading to a suspension of operations at oil fields and terminals in its region.
The country continues to deal with the aftermath of the 2011 uprising that ended the rule of Moamer Kadhafi.
