The Central Bank of Libya said Governor Naji Mohammed Issa and Finance Minister Rashid Abu Ghuffa discussed reorienting fiscal policy to complement the central bank’s monetary policy, with the aim of supporting economic stability. The meeting also reaffirmed support for the central bank’s policies to preserve the national currency and maintain exchange rate stability. The priorities highlighted included ensuring the regular and smooth transfer of oil revenues, improving tax administration at the Tax and Customs Authorities, and strengthening electronic collection systems across the Ministry of Finance’s main and sub-treasuries. The two sides also called for intensified work to complete the Instant Salary system project and raise the pace of implementation in the coming months, with progress reported at 72% as of March.
Central Bank of Libya2026-04-09
Central Bank of Libya and Finance Ministry align fiscal policy with monetary policy to support currency stability
The Central Bank of Libya said its governor and the finance minister agreed on the need to align fiscal policy with the bank’s monetary stance to support economic stability, the national currency and exchange rate stability. They also prioritized regular oil revenue transfers, stronger tax and customs administration, expanded electronic collections across the Finance Ministry, and faster completion of the Instant Salary system, which stood at 72% in March.