A meeting was convened today under the auspices of the Central Bank of Libya and the US Chargé d’Affaires, Jeremy Berndt, to signal the practical activation of the unified financial spending agreement and its operational mechanisms. The move is designed to bolster fiscal stability and embed the principles of disclosure and transparency across state institutions. The session brought together Central Bank Governor Naji Issa, Deputy Governor Marai al-Barassi, and Khaled Shakshak, the head of the Audit Bureau, alongside members of the joint financial committee established under the pact.
Deliberations centered on the frameworks required to execute Article 8 of the accord, while also evaluating public expenditure alongside both oil and non-oil revenues. Additionally, participants mapped out the necessary technical arrangements to guarantee the seamless disbursement of funds in accordance with the pre-established guidelines.
The attendees underscored the importance of maintaining and capitalising on the current climate of consensus. They further emphasised the need for sustained technical and institutional coordination to ensure the effective implementation of the agreement’s clauses, thereby achieving maximum transparency to safeguard national interests and drive economic stability.
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