Rédaction Africa Links 24 with Sami Zaptia
Published on 2024-04-18 21:22:17
The Central Bank of Libya (CBL) recently participated in a series of meetings during the IMF/WB 2024 Spring Meetings held in Washington DC from 17th to 19th April. These meetings covered a wide range of topics related to the economic and political situation in Libya, as well as international cooperation and support.
Early in the schedule, CBL Governor Saddek El-Kaber and his team engaged in discussions with the Atlantic Council at their headquarters in DC on 15th April. The focus of this meeting was on the latest developments in the Libyan economy, supporting the National Oil Corporation, coordinating with the House of Representatives to approve a unified budget, and addressing challenges faced by the Central Bank. The discussion also touched on international geopolitical changes.
On the same day, the Governor and his team met with the United States Agency for International Development (USAID) to discuss technical support programs for the Central Bank in various areas. They also engaged with the American Libyan Business Association (USLBA) to explore opportunities for American companies to work in Libya across various sectors.
The following day, the CBL Governor participated in a high-level meeting of the African Advisory Group at the International Monetary Fund, discussing strategies for strengthening public finances in Africa. Subsequent meetings with the IMF and the Executive Director of the World Bank Group focused on climate change, digital technology, and economic partnerships with African countries.
A key highlight was the high-level meeting on 17th April with the IMF Executive Director, central bank governors, and finance ministers from North African, Middle Eastern, and Arab countries. Topics included global economic prospects, investment stimulation, climate change effects, and financial crisis management.
Additional meetings were held with the Governor of the Central Bank of Turkey and the Governor of the Central Bank of Tunisia to enhance cooperation and exchange experiences in addressing regional economic challenges. Discussions with the Director of the Maghreb and Malta Region at the World Bank centered on reconstruction efforts and capacity building for financial institutions.
Furthermore, a meeting with the US Federal Reserve highlighted cooperation in financial transfers and compliance procedures related to anti-money laundering and terrorist financing. The Federal Reserve expressed ongoing support for collaboration with the Central Bank of Libya in various areas.
Overall, the CBL’s participation in the IMF/WB 2024 Spring Meetings provided valuable insights and opportunities for cooperation to address economic challenges and enhance financial sustainability in Libya and the region.The discussions held during these meetings emphasized the significance of international cooperation and partnership in supporting economic development and stability in Libya.
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