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Home » Libyan central bank pressured to cut funding for government, sources say

Libyan central bank pressured to cut funding for government, sources say

Wednesday, February 16, 2022 Economy 1 Min Read
Libyan central bank pressured to cut funding for government, sources say

Saddek El-Kaber, the governor of the Central Bank of Libya, is facing international pressure to cut funding for the Government of National Unity, led by incumbent Prime Minister Abdul Hamid Dbeibeh, diplomatic sources told The Libya Update.

The sources, which requested anonymity, said that international parties urged El-Kaber not to rally behind Dbeibeh giving the uncertainty surrounding his fate in power after the Libyan parliament named Fathi Bashagha as the country’s new interim leader.

The international parties are particularly concerned about the prospect of a new conflict, and wants to cut any financial resources that could potentially be exploited by Dbeibeh’s government to fuel the conflict.

These demands by the international parties were the focus of El-Kaber’s recent talks with British Ambassador Carolin Hurndall and Italian Ambassador Giuseppe Buccino, the sources revealed.

El-Kaber reportedly agreed to limit the scope of funding to only public salaries and the fuel subsidy.

Abdul Hamid Dbeibeh Central Bank of Libya Libya Saddek el-Kaber
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🔴 BREAKING | The Central Bank reveals that spending by the Ministry of Finance of the Government of National Unity and its affiliated entities reached 22.74 billion dinars during the first nine months of 2026.

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