Derna: The Board of Directors of the Central Bank of Libya convened its first meeting of 2025 in Derna, led by Governor Naji Issa, with Deputy Governor Marai Al-Barasi and all board members in attendance. The meeting marked a significant step in shaping Libya’s financial and economic strategies for the coming year.
According to Libyan News Agency, the Board resolved to develop a mechanism for establishing investment funds aimed at enhancing the business environment. This initiative seeks to involve both the banking and private sectors in the financing of development projects, reflecting a strategic push towards economic growth and sustainability.
The meeting also addressed the public spending policy for 2024, examining its effects on the exchange rate and the increasing demand for foreign currency. The Board agreed on the necessity to collaborate with relevant authorities to approve a unified budget for 2025. This budget will align with a law from the House of Representatives, aiming to implement reforms in public spending and other economic policies to stabilize the financial landscape.
On the sidelines of the meeting, Board members toured Derna to assess reconstruction efforts and progress. They met with the Director General of the Development and Reconstruction Fund and his team to review completed projects and discuss future plans, highlighting the ongoing commitment to the city’s development and recovery initiatives.