Two former London bankers hired by Libya to manage hundreds of millions of dollars in investments are accused of defrauding the sovereign fund by funneling off cash for themselves.
Saddek Elkaber, the Governor of the Central Bank of Libya (CBL), discussed on Friday enhancing financial transparency and promoting economic stability with Deputy Assistant Secretary of the U.S. State Department, Joshua Harris, and Chargé d’Affaires of the US Embassy in Libya, Leslie Ordeman.
Libya have signed an agreement with the French Embassy for the teaching the French language to employees of the Tripoli-based Ministry of Labor.
Global economic challenges and its repercussions on the Arab countries are the most prominent themes of talks between Saddek Elkaber, Governor of the Central Bank of Libya, and Jordanian Prime Minister Bisher Al-Khasawneh, during their meeting in Amman yesterday.
The Turkish company GAMA could carry out the expansion and restoration works of the Gulf Steam Station power plant in Sirte, Libya.
The Libyan Political activist Mohamed Eljarh said that documented corruption and mismanagement of public finances in Libya in the latest Audit Bureau report was “only the tip of the iceberg.”
50 million of Libyan cash were delivered by the Central Bank of Libya (CBL) to Benghazi on Monday, according to press reports.
Libya’s outgoing prime minister Abdul Hamid Dbeibeh, was hoping to negotiate the release of millions Libyan assets frozen in Malta’s banks during his visit to the European country last August. However, the request was denied by his Maltese counterpart Robert Abela, according to a report published today by Times of Malta.
The the Governor of the Central Bank of Libya (CBL), Saddek Elkaber, discuss the bank’s efforts to “strengthen transparency in the financial sector” with U.S. Assistant Secretary Barbara Leaf during a meeting in Tunis today, according to statement by the U.S. State Department.
The economic situation in Libya could become better than the current one in the medium or short term, but there are risks deriving from the presence of two governments and fears of new tensions that increase the level of “mistrust”, the World Bank said.