Libya's Factions Ink Deal on Central Bank Leadership

Libya's factions have signed an agreement outlining the procedures, criteria, and timelines for appointing key positions within the country's central bank. This move, announced by the United Nations Libya mission (UNSMIL), aims to resolve the ongoing crisis over control of the central bank and oil revenue, which has significantly reduced Libya's oil output and exports.

Libya's factions have reached a landmark agreement detailing the procedures, criteria, and timelines for the appointment of a governor, deputy governor, and board of directors for the central bank. This was confirmed in a statement by the United Nations Libya mission (UNSMIL).

The agreement holds promise for diffusing the prolonged crisis over control of the central bank and the management of oil revenue, which has dramatically curtailed the country's oil production and exports.

By laying out these criteria, the factions aim to ensure a more stable and transparent process moving forward, potentially revitalizing Libya's economic resources.

(With inputs from agencies.)