Libya central bank reunified after decade of war
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The Libyan Central Bank is reunified almost a decade after the country's civil war saw it split into two.
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Libyan security forces stand guard in Tripoli, Libya, Tuesday, Aug. 16, 2023 (AP)
The Libyan Central Bank has been reinstated as a unified sovereign institution, the bank's governor said on Sunday, nearly a decade after it was divided into two separate entities following the outbreak of the civil war in 2014.
Governor Sadiq Al-Kabir made the announcement at the headquarters in Tripoli after meeting Deputy Governor Mari Muftah Rahil and senior officials from both branches, the other being in Benghazi.
The country has been suffering from an escalating political crisis with a dispute between two governments. This crisis was initiated by Western forces, namely NATO, which launched a war of aggression on the country in 2011, leading to the collapse of Libya as a whole.
Read more: US post 9/11 wars caused 4.5 million deaths: Study
"This is a crucial milestone in enhancing the performance of this vital sovereign institution, as we remain committed to integration and bolstering transparency and disclosure measures adopted by our government," Prime Minister Abdul Hamid Dbeibeh, head of the UN-recognised government based in the capital, said on X, formerly known as Twitter.
The central bank has been alluding to reunification since January 2020 as part of a peace process after a ceasefire. Tripoli sought professional help from services firm Deloitte to complete the transition.
The move toward unity comes days after clashes in the Libyan capital of Tripoli killed 55 people and wounded 146 others before a truce took hold.
Fighting erupted on Monday night and raged through Tuesday between the influential 444 Brigade and the Al-Radaa, or Special Deterrence Force, two of the militias that have vied for power since the overthrow of Libyan President Muammar Gaddafi in 2011 following a NATO-backed military invasion.
It is noteworthy that both armed groups are aligned with Dbeibeh’s government.
A total of 234 families were evacuated from frontline areas in the capital’s southern suburbs, along with dozens of doctors and paramedics trapped by the fighting, the Emergency Medical Centre highlighted.
Earlier, the country's efforts for unity saw the interior minister underlining that a singular unified cabinet of ministers could be a possibility for Libya only if the matter is treated as a strictly internal issue that must not be subjugated to any foreign interference.
"If foreign countries agree to do so, to leave ... this matter for internal consideration, and agree with Libya's decision, I am sure, the parliament and the High Council of State [an advisory body for Libya] will successfully form a new government," minister Issam Bouzriba said.
A number of states currently interfere in Libyan internal affairs and most notably influence local political parties, he stressed, noting that several of those influenced by foreign actors were more loyal to their foreign patrons than they were to Libya and the Libyan people.
