The presidency of Libya’s eastern-based parliament approved on Monday the appointment of a new board of directors of the Central Bank, after a new governor and his deputy were agreed last month, a parliament spokesman has said. According to Reuters, spokesman Abdullah Belhaiq posted the decision on social media. The new board of directors has six members.
Naji Issa was approved as the new Central Bank governor last month by Libya’s two legislative bodies, the House of Representatives in eastern Benghazi and the High State Council in Tripoli. He replaced Sadiq Al-Kabir, who was ousted by the head of Tripoli-based Presidential Council, Mohamed Menfi. Mari Muftah Rahil Barrasi was approved as deputy governor.
Menfi’s move led to a crisis that has slashed the country’s oil output when the parallel administration in the east announced in 26 August the closure of production and exports in a protest.
After Issa’s approval by the two bodies, the parallel administration announced the reopening of all oilfields. Then the state oil firm, National Oil Corporation (NOC), said that it had lifted force majeure at all oilfields and terminals as of 3 October.
The NOC said on Sunday that the country’s crude oil and condensates output over the previous 24 hours reached 1,327,646 barrels per day. Libya’s oil output has been disrupted repeatedly in the chaotic decade since the country divided in 2014 between two administrations in its east and west following the NATO-backed uprising that toppled and led to the killing of Muammar Gaddafi in 2011.
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