Al-Hibri Submits His Resignation: We Cannot Work Under These Circumstances – Al Marsad

The Governor of the Central Bank of Libya in al-Bayda, Ali al-Hibri, submitted his resignation to the President of the Libyan House of Representatives, Chancellor Aguila Saleh, because of the precarious work conditions he faces.

(Libya, 3 March 2021) – In his letter of resignation, of which AlMarsad obtained a copy, Ali al-Hibri demanded he be recommended for retirement due to economic crisis and lack of security protection for employees of the CBL.

He said, “The Central Bank of Libya has, since 2014, provided everything legally possible to provide the capabilities within the available limits.” so that there is a balance as much as possible between the economic conditions in the country and the limited and almost non-existent financing possibilities.”

It also added that this effort aims to ensure “there is a balance as much as possible between the economic conditions in the country and the limited and almost non-existent financing possibilities.” He stressed that the continued lack of funding capacity, due to the dependence of the state on the only source of revenue—oil and gas—made it impossible to achieve this.

Al-Hibri explained in his letter that all this led to accumulating public debt to a level that damages the economy, particularly the banking sector and the macroeconomic policies of the state.

He requested retirement as he was approaching the legal age according to CBL regulations.

© ALMARSAD ENGLISH (2021)

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