CBL discusses dinar recovery with Oil ministry and NOC

Libya’s Central Bank (CBL) Acting Governor, Abdul Fattah Ghaffar, held a pivotal meeting with Oil and Gas Minister Khalifa Abdul Sadiq and National Oil Corporation (NOC) Acting Chairman Masoud Suleiman. The meeting’s venue was the Central Bank headquarters in Tripoli, medias reported on September 10. The purpose of this high-level discussion was to explore strategies for restoring the value of the Libyan dinar and enhancing oil and gas production.
The meeting, which included members of the Central Bank’s board and key officials from the NOC, focused on improving coordination between Libya’s financial and energy sectors. This collaboration is deemed crucial for stabilizing the country’s economy, addressing the current economic challenges, and fostering growth in both sectors.
The central topics of the discussion were:
Restoring the Libyan Dinar Strategies to stabilize and increase the value of the national currency, which has faced significant volatility.
Boosting Oil and Gas Production: Plans to enhance output and efficiency in Libya’s critical oil and gas sector, aiming to increase revenue and support economic stability.
Sector Coordination Strengthening the collaboration between the Central Bank and the NOC to ensure cohesive and effective policies that benefit both the financial and energy sectors.
The Central Bank emphasized that this meeting is part of ongoing efforts to advance both the banking and oil sectors in Libya, highlighting the importance of joint initiatives and strategic planning in achieving economic recovery and development.