Libyan parliament speaker declares eastern central bank head as overall governor



BENGHAZI, Libya, July 1 (Reuters) - Libya's eastern-based parliament speaker has resumed demands to treat the head of the eastern central bank branch as its overall governor, effectively rewinding efforts to reunify the institution amid a worsening political standoff.

The move may mark a step back towards the territorial division of Libya between parallel administrations with their own institutions, aggravating the risks of renewed conflict.

Any escalation could also prolong or worsen a blockade of Libyan oil installations by eastern-based factions that National Oil Corp said this week has taken about 860,000 barrels per day off the global market.

Parliament speaker Aguila Saleh issued a letter to the government and state institutions reminding them that the eastern branch head Ali al-Hibri has been designated governor by parliament. It was dated Tuesday but released on Friday.

Libya has been in chaos since the 2011 NATO-backed uprising that ousted Muammar Gaddafi. In 2014 it split between warring eastern and western factions before a peace process beginning in 2020 tried to knit the country back together.

However, after a scheduled election was halted in December, the eastern-based parliament said the interim unity government of Abdulhamid al-Dbeibah had expired and it appointed Fathi Bashagha to replace him.

Last month it approved a budget for Bashagha's government but the Central Bank of Libya (CBL) governor in Tripoli, Sadiq al-Kabir, has shown no sign he will make that money available with Dbeibah still in office in the capital.

Dbeibah rejects the parliament's moves and has refused to step down, with the standoff raising fears that Libya will return to division and warfare between the armed factions backing each side.

During the previous period of division, Hibri was recognised as central bank governor by eastern factions and the bank imported large sums of cash printed in Russia.

On Monday, Hibri accused the CBL Tripoli governor Kabir, of disregarding reunification efforts and indicating the east could resume money-printing operations.

When Libya split, Kabir cut eastern banks off from electronic money-clearing operations leading to a liquidity crisis as eastern customers moved to cash, and different black market currency exchange rates in different regions.

Under an internationally recognised 2015 deal aimed at resolving the conflict, the Central Bank Governor is a so-called sovereign position, requiring approval of both the parliament and another chamber, the High State Council, to change.

However, talks between parliament speaker Saleh and the HSC head Khaled al-Meshri aimed at agreeing on a constitutional basis for elections and an interim deal for control of government broke down in Geneva on Thursday without success.

The United States has led international efforts to resolve the underlying disputes over the allocation and spending of Libya's massive oil wealth through a new financial mechanism.

However, analysts say any such effort will be fraught with complications.
Reporting by Ayman al-Warfali and Angus McDowall; Editing by Andrew Heavens

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Maaaring malugi ang iyong kapital. Maaaring hindi nababagay sa lahat ang mga produktong naka-leverage. Mangyaring isaalang-alang ang aming Pahayag sa Risk.