Libya to Appoint New Central Bank Governor Within 30 Days After Ousting Kabir

Sep 3, 2024, 04:53 PM

Libya's legislative bodies have agreed to appoint a new central bank governor within 30 days following UN-sponsored talks. The decision comes after the ousting of Saddek Omar El-Kabir, who had been the governor since 2012. Kabir had centralized significant authority, and his replacement could be challenging due to factions vying for increased access to oil revenues. The agreement was confirmed in statements from both Kabir and representatives of the legislative bodies, according to Reuters and FT.