The UN Support Mission in Libya (Manul) welcomed the meeting, which took place on Tuesday, January 12, in Brega, a port city in eastern Libya, between the finance ministers of the two rival governments.
Agreement on an overall budget for 2021 was reached at this meeting. A Joint Financial Commission has been set up, composed of experts from both sides, to design and monitor this budget.
In the near future, this meeting should make it possible to resolve some pressing issues such as late payment of wages, to rationalize the budget, in particular expenditure, and to balance them between the different regions by improving the deteriorating services and infrastructure in some of them.
In the longer term, economic experts hope to curb inflation, stabilize the value of the Libyan dinar against the dollar and implement the necessary economic reform program.
If this meeting constitutes a significant phase of the Libyan economy, it must, according to the UN, be “accompanied by real efforts” in the political aspect of the discussions in order to reach a “united government”.
Discussions to achieve this are currently at a standstill. A meeting is scheduled in Geneva from Wednesday to again to try to appoint a leadership capable of leading the country towards the election scheduled for the end of 2021.