The Head of the Presidential Council, Mohammed Menfi, has constituted a specialised advisory Committee to assess Libya’s worsening economic landscape and recommend corrective measures.
The newly formed body, chaired by Hossam Al-Shahibi and comprising seven economic and financial experts, has been mandated to deliver a comprehensive technical report evaluating the country’s macroeconomic performance and institutional framework.
The report is expected to identify systemic risks with implications for national security and propose actionable economic and governance reforms in the short and medium term.
Members of the committee include Al-Taher Al-Jehimi, Mohamed Abousenina, Idris Al-Sharif, Ezzedine Ashour, Ayoub Al-Farsi, Nasser Al-Maarefi and Ahmed Bin Amer.
In announcing the decision, Menfi cited the “continued deterioration of macroeconomic indicators” as a pressing concern, cautioning that the trajectory now poses a threat to stability, national security and citizens’ rights.
All public institutions and official bodies have been directed to provide the committee with the necessary data and administrative support to facilitate its work. A fixed financial remuneration will be granted to the chair and members, with details to be determined subsequently.
The move comes against the backdrop of a sharp spike in foreign exchange rates, with the US dollar trading at 10 Libyan dinars on the parallel market.
This surge persists despite a reform package unveiled by the Central Bank of Libya earlier in February, alongside new regulatory interventions aimed at stabilising the currency market and curbing speculation.
The formation of the advisory committee signals a renewed institutional effort to restore economic equilibrium and reinforce fiscal discipline at a time of mounting financial strain.
