Hibri: We are surprised that CBL unification consultations were suspended by a decision from Al-Kabeer

Hibri: We are surprised that CBL unification consultations were suspended by a decision from Al-Kabeer

The Deputy Governor of the Central Bank of Libya, Ali Al-Hibri, expressed his surprise at stopping the consultations to unify the CBL by a decision of the Governor, Al-Siddiq Al-Kabeer, stressing his support for the move to change the current governor.

The consultations to unify the Central Bank stopped and were suspended by a decision of the Governor, Siddiq Al-Kabeer, and we do not know the reasons and we are surprised by this matter.”, Al-Hibri said in press statements during his participation in the annual forum for the development of the banking sector in Libya, which is being held in Tunisia.

Al-Hibri added that he relied a lot on the steps to unify the central bank according to the plan developed by the consulting company, which was based on the principle of decentralized operation of the bank, noting that “this did not seem to satisfy the governor, so he suspended the consultations,” he said.

Al-Hibri affirmed his insistence that the powers be distributed to everyone so that the central bank can play its role in serving and stimulating the national economy in the country, not serving a region or faction.

The governor

Regarding changing the governor of the Central Bank in the context of changing the holders of sovereign positions, Al-Hibri affirmed his support for the step of the House of Representatives and the Council of the State in the necessity of changing the current central governor of Libya, Sadiq Al-Kabeer, in application of the principle of peaceful transfer of power. He reiterated his assertion by saying: “I and al-Kabeer have been in our positions since 2011, and this is period of time us too long”.

The Deputy Governor of the Central Bank continued his speech by saying: “Now keeping the Governor Sadiq Al-Kabeer is based on a racist regional point of view, because changing the position requires that the governor be from the east, which is rejected by many for a narrow regional motive.”

Ali Al-Hibri explained that the global economic crises affected the economic situation in Libya, as it is a country that relies primarily on the import of food commodities. He noted that the import rate has currently reached about 90 percent, which confirms that the country’s production capacities are disrupted, and there is a defect in the production structure, and hence the high unemployment rate.