The Central Bank of Libya announced the official launch of the implementation of the unified financial expenditure agreement and its unified spending mechanisms following an expanded meeting held with the U.S. Embassy’s chargé d’affaires and senior Libyan financial oversight officials. The launch was framed as a step to support financial stability and strengthen disclosure and transparency across institutions. Discussions focused on how to implement Article 8 of the agreement, monitor public expenditure and oil and non-oil revenues, and put in place the technical arrangements needed to ensure regular fund disbursements under the agreed mechanisms. Participants included the central bank governor and deputy governor, the president of the Audit Bureau, and members of the Joint Financial Committee established under the unified financial expenditure agreement. Participants also called for maintaining the current consensus and continuing technical and institutional coordination to ensure the agreement’s provisions are implemented in practice and to raise disclosure and transparency.
Central Bank of Libya2026-05-15
Central Bank of Libya launches implementation of unified financial expenditure agreement and spending mechanisms
The Central Bank of Libya has formally launched implementation of the unified financial expenditure agreement and its unified spending mechanisms. The meeting focused on Article 8, oversight of public spending and oil and non-oil revenues, and technical arrangements for regular disbursements. Participants also called for continued coordination to carry the agreement into practice.