DERNA, Libya – The Board of Directors of the Central Bank of Libya (CBL) convened its first meeting of 2025 in Derna, chaired by Governor Naji Issa. The meeting focused on key economic issues facing the nation, including investment, public spending, and reconstruction efforts.
The CBL announced plans to develop a mechanism for establishing investment funds. This initiative aims to stimulate the business environment and encourage participation from the banking and private sectors in financing development projects. The board also reviewed the 2024 public spending policy, analyzing its impact on the exchange rate and the recent surge in demand for foreign currency.
A key decision reached at the meeting was an agreement to engage with relevant authorities to secure approval for a unified 2025 budget, in line with legislation passed by the House of Representatives. Discussions also centered on the implementation of reforms to public spending and other economic policies.
In addition to the formal meeting, the Board conducted a site visit in Derna to assess the progress of reconstruction efforts. They met with the Director General of the Development and Reconstruction Fund and his team to discuss completed and planned projects.
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