No Result
View All Result
Wednesday, February 1, 2023
14 °c
Tripoli
14 ° Thu
14 ° Fri
14 ° Sat
15 ° Sun
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

State Council orders CBL to stop financial dealings with expired GNC

bySami Zaptia
April 13, 2016
Reading Time: 2 mins read
A A
State Council orders CBL to stop financial dealings with expired GNC

The State Council orders CBL to cease financial dealings with GNC.

12
SHARES
50
VIEWS
Share on FacebookShare on Twitter

By Sami Zaptia.

The State Council orders CBL to cease financial dealings with GNC.
The State Council orders CBL to cease financial dealings with GNC.

London, 13 April 2016:

As partially reported by Libya Herald yesterday, more details have emerged of the State Council’s . . .[restrict]instructions to the Central Bank of Libya (CBL) regarding dealings with the GNC.

In a letter that has been made public today, the High State Council led by Abdulrahman Swehli has ordered the CBL to cease all financial dealings with the GNC.

The letter stated that the GNC had expired and, by implication, no longer had any authority or legitimacy.

RELATED POSTS

Aldabaiba government holds meeting to discuss bartered fuel imports in transparent process

Libyan state spent LD 162 bn and not LD 127 bn as claimed: Husni Bey

The latest statement by the High Council puts it and the GNC squarely in a head-to-head battle for authority and legitimacy. The State Council letter says that it is currently the relevant body.

The action by the State Council overlooks the fact that the House of Representatives (HoR) considers its early formation premature ahead of a vote by the HoR on a necessary constitutional amendment and ahead of a vote of confidence in the Government of National Accord (GNA).

The open warfare between the State Council, overwhelmingly dominated by former GNC members, and the rump of the GNC still clinging on to power, further exposes the split and power struggle between the two GNC factions.

It also belies their 2014 claims that their military fight to control Tripoli has been all along one of principles and ideology, rather than for continued power.

The situation put the poor CBL in a very tight situation, caught between taking orders from the rump GNC and its Salvation Government, the State Council and the Presidency Council/Government of National Accord and the HoR and Thinni government in the east.

The CBL has maintained that it has attempted to remain a technocratic, independent financial body. However, de facto power in Tripoli by the Salvation Government had meant it had to deal with the local authority. It will be interesting to see if it recognizes the questioned authority of the State Council.

Where the CBL decides to stand will be pivotal as most Libyans live off a state salary. Whichever body gains the loyalty of the Tripoli-based CBL will gain de facto control of Libya’s purse strings, and hence control over Libya.

It will also be interesting to see if the rump GNC and its Salvation Government will attempt to use force, through their allied militias in Tripoli, to coerce the CBL into implementing their instructions and paying their handsome salaries. [/restrict]

Tags: Abdulrahman SwehliCBL Central Bank of LibyafeaturedGNA Government of National AccordGNC General National Congress
Share5Tweet3Share1

Related Posts

UNHCR finds war criminals on all sides in the conflict
Libya

Libya must take decisive steps to address serious rights violations: UN Fact-Finding Mission on Libya

January 30, 2023
Prime minister Aldabaiba forms Ministerial committee to study reforming fuel subsidies, orders payment of family grant, increases pensions
Libya

PM Aldabaiba reviews GECOL’s summer plan to avoid power cuts

January 27, 2023
Benghazi University to hold open day on its Artificial Intelligence curriculum
Libya

Benghazi University to hold open day on its Artificial Intelligence curriculum

January 27, 2023
EU to help Libya better design and analyse policies and measure the impact of strategies
Libya

EU to help Libya better design and analyse policies and measure the impact of strategies

January 26, 2023
GNU to take oath at Benghazi HoR session and budget to be approved at Tripoli session: GNU
Libya

Aldabaiba government holds meeting to discuss bartered fuel imports in transparent process

January 26, 2023
Czech Republic training Libyan doctors discussed as part of ‘‘Medovac’’ agreement
Libya

Czech Republic training Libyan doctors discussed as part of ‘‘Medovac’’ agreement

January 24, 2023
Next Post

IS in deadly desert ploy; six reported killed

Tripoli CBL holds meetings in Rome

Tripoli CBL holds meetings in Rome

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Medsky Airways adds a second Airbus 320 to its fleet

    Medsky to start flights from Tripoli to Malta

    126 shares
    Share 52 Tweet 31
  • New Eni gas deal with Libya rejected by current Oil Minister and Bashagha

    105 shares
    Share 43 Tweet 26
  • Aldabaiba praises activation of seven domestic airports and start of work on Tripoli International Airport’s terminal

    81 shares
    Share 32 Tweet 20
  • Libyan Iron and Steel (LISCO) exports to 38 countries – 136,000 tons to be exported in coming months

    73 shares
    Share 35 Tweet 16
  • LBBC announces a wide range of business activities for 2023 – including a visit to Benghazi

    61 shares
    Share 24 Tweet 15
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

NESDB signs agreement with Malaysia Consultative Council to benefit from its development experience

Sirte Oil Company starts using smart oilfield technology

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?