Tripoli – The UN Mission announced a significant agreement. Members of the structured dialogue’s economic track reached this consensus. It concerns unifying the national budget. It also addresses reforming oil revenue governance.
The Mission revealed details from the track’s first five-day session this week. Members agreed to prioritize current financial pressures. These include liquidity shortages and increasing public debt. They also include widening foreign currency deficits and exchange rate fluctuations. These factors impose significant living burdens on a broad segment of the Libyan population.
The Mission noted that the issues agreed upon for review align with major public concerns. These concerns were identified in a November survey by the UN Support Mission in Libya (UNSMIL). Over 1,000 participants were included. Survey respondents strongly supported (66%) a unified, transparent national budget. They viewed it as a top priority for economic reform. Many written responses highlighted that a single national budget is missing. This contributes to spending duplication. It also causes a lack of fairness in service delivery. Furthermore, 71% of participants expressed deep concern about corruption. They also worried about public fund misuse. A large number explicitly cited a lack of transparency in oil revenue flows. They also pointed to political capture of sovereign resources.
The Mission stated the economic track will explore practical steps in the coming months. These steps, facilitated by the Mission, aim to advance urgent stability measures. They also seek to strengthen state institutions. The track will address short and long-term drivers of conflict. It will build consensus on a national vision. This vision will guide Libya towards lasting peace. In parallel with other structured dialogue tracks—governance, security, human rights, and national reconciliation—the economic track will propose mechanisms. These will help ensure the implementation of future recommendations.
Hanna Tetteh, the Special Representative of the Secretary-General, spoke on the opening day. She addressed the economic track session. “The challenge is to propose solutions,” she said. “These solutions must be based on a clear understanding of the current economic situation. They must also address shortcomings in current public financial management practices.” She added, “A broader understanding of institutional risks and weaknesses is needed.” “Appropriate measures must be recommended to address them. This is crucial to prevent further economic deterioration.”
Tetteh further stated that without practical policies to address these issues, the economy will remain challenged. This holds true regardless of who is in leadership positions. A common belief suggests that a business-as-usual approach can continue. This is because Libya possesses sufficient reserves. These reserves could fund all current demands and obligations on the country’s resources. However, she warned, these reserves are not unlimited. Competent and responsible management of the country’s resources is essential. It is vital for fostering accelerated growth and development.
In its statement, the Mission addressed the economic track’s dialogues. Over the five days, economic track experts gave presentations. These established a shared factual basis for discussions. They reviewed challenges, institutional constraints, and key priority areas. The track also benefited from exchanging views with Libyan anti-corruption officials. Discussions were also held with international financial institutions.
Members also launched in-depth discussions. These focused on the management of oil and sovereign resources. They noted the oil sector remains the country’s most important economic asset. Yet, it also represents its greatest vulnerability. They broadly agreed on the necessity of transparent oil resource management. Decision-making processes should be depoliticized.
They affirmed that economic and financial reforms depend on political legitimacy. They also rely on disciplined security sector conduct and coherent governance. Progress in these tracks, in turn, requires credible economic results. This is needed to restore public trust. It will also deliver tangible development gains for citizens across Libya. This underscores the need for balanced and coordinated progress across the structured dialogue tracks. Institutional accountability is a unifying pillar across all these tracks.
The Mission indicated the structured dialogue aligns with UNSMIL’s mandate. UNSMIL aims to use its good offices. It facilitates an inclusive political process. This process is Libyan-owned and Libyan-led. It ensures no outcomes are imposed. It also fosters consensus on governance arrangements. These arrangements lead to elections and long-term stability. The dialogue includes representatives from various parts of the country. Participants come from municipalities, political parties, and security agencies. Universities and technical institutions are also represented. Women’s groups, youth, and civil society organizations participate. This includes human rights groups, victim associations, and persons with disabilities. Women constitute 35% of the participants.
The Mission highlighted that the Human Rights and Reconciliation track will meet from January 25-29. All other thematic dialogue teams will continue their online meetings. In-person meetings are set to resume in February.