Britain, Germany back Libyan efforts to end financial crisis

Source: Xinhua| 2017-12-11 05:43:08|Editor: Yurou
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TRIPOLI, Dec. 10 (Xinhua) -- The British and German ambassadors to Libya on Sunday voiced their countries' support to the Libyan Central Bank's plan to end the current economic and financial crisis.

The two envoys made the remarks while meeting with the Governor of Tripoli Seddiq Al-Kabir, during which they discussed Libya's current economic and financial situation, according to the Central Bank.

"Kabir and the British ambassador Peter Millet agreed that ending the political division and one step closer to a stable political environment will lead to the success of any economic and financial program in Libya," said the Central Bank in a statement.

Millet reaffirmed his country's support for the Central Bank's proposals of economic and financial reforms to end the crisis that the country is going through, said the Bank.

German ambassador Christian Buck also expressed his country's willingness to "provide any help to promote the political stability in Libya, as well as to support the efforts made by the Central Bank," it added.

Libya has been experiencing an unprecedented economic and financial crisis since the fall of Gaddafi's regime in 2011, as the conflicts hammered its oil exports, the major source of its foreign reserves and national income.

Local currency has declined against foreign currencies and local banks suffer from a lack of funding.

The meetings took place as neighboring Tunis hosted meetings sponsored by the World Bank and the International Monetary Fund of representatives of Libyan's divided authorities.

The meetings discuss unification of the state budget for 2018, adjustment of the Libyan dinar exchange rate against foreign currencies, and plans to develop the Libyan economy, according to local media.