Forwarded from Africa Intel
🇱🇾 Libya’s powerful central bank governor sacked
One of Libya's dueling authorities unilaterally fired the country's powerful central bank governor in an abrupt move that is likely to inflame tensions in the divided North African country.
The presidential council in the capital of Tripoli, which is allied with the government of Prime Minister Abdul Hamid Dbeibah that controls western Libya, removed Gov. Sadiq al-Kabir, according to a decree issued late Sunday.
In his place, the council appointed Mohamed Abdul Salam al-Shukri, an economist and former deputy governor, as the new governor for the Central Bank of Libya.
Al-Kabir had led the central bank since October 2011 — the year that Libya was plunged into chaos after a NATO-backed uprising toppled longtime dictator Moammar Gadhafi.
During that time, he accumulated significant influence and power but also faced criticism from officials on both side of the country's political divide in allocating Libya's oil money. In recent months, that criticism has turned into calls for his removal.
#Libya
@africaintel
One of Libya's dueling authorities unilaterally fired the country's powerful central bank governor in an abrupt move that is likely to inflame tensions in the divided North African country.
The presidential council in the capital of Tripoli, which is allied with the government of Prime Minister Abdul Hamid Dbeibah that controls western Libya, removed Gov. Sadiq al-Kabir, according to a decree issued late Sunday.
In his place, the council appointed Mohamed Abdul Salam al-Shukri, an economist and former deputy governor, as the new governor for the Central Bank of Libya.
Al-Kabir had led the central bank since October 2011 — the year that Libya was plunged into chaos after a NATO-backed uprising toppled longtime dictator Moammar Gadhafi.
During that time, he accumulated significant influence and power but also faced criticism from officials on both side of the country's political divide in allocating Libya's oil money. In recent months, that criticism has turned into calls for his removal.
#Libya
@africaintel
Forwarded from Africa Intel
🇹🇷🇱🇾The Parliament of Turkey considering a memorandum of understanding between Turkey and Libya regarding Turkish forces in Libya
On August 15, the Turkish National Parliament accepted for extraordinary consideration for subsequent approval a memorandum of understanding between the Government of the Republic of Turkey and the Government of National Accord (GNA) of Libya regarding the status of Turkish forces in the African state.
Türkiye will receive:
– unlimited access to the airspace and territorial waters of Libya;
– the right to install wired and wireless communication systems, open post offices and bank branches within the areas designated to them;
– extensive logistical support from Tripoli;
– free fuel, electricity, water and internet at its facilities in Libya;
– payment of expenses for their contracts and purchases;
- exemption from taxes, duties or charges on imports and exports.
#Turkey #Libya
@africaintel
On August 15, the Turkish National Parliament accepted for extraordinary consideration for subsequent approval a memorandum of understanding between the Government of the Republic of Turkey and the Government of National Accord (GNA) of Libya regarding the status of Turkish forces in the African state.
Türkiye will receive:
– unlimited access to the airspace and territorial waters of Libya;
– the right to install wired and wireless communication systems, open post offices and bank branches within the areas designated to them;
– extensive logistical support from Tripoli;
– free fuel, electricity, water and internet at its facilities in Libya;
– payment of expenses for their contracts and purchases;
- exemption from taxes, duties or charges on imports and exports.
#Turkey #Libya
@africaintel
Forwarded from Africa Intel
🇱🇾 Three Libyan oil fields receive instructions to resume production, engineers say
Libya's Sarir, Messla and Nafoura oilfields have received instructions to resume production, engineers at the three fields told Reuters on Saturday, after a standoff between rival political factions shut most of the country's oilfields.
The resumption order was made by the fields' operator, the Arabian Gulf Oil Company, which did not provide any reasons, according to the engineers.
A struggle to control the Central Bank of Libya (CBL) has sparked a blockade of oil production and threatens the worst crisis in years for the major energy exporter, long torn between rival eastern and western factions.
The standoff was triggered when western factions moved this month to oust veteran governor Sadiq al-Kabir and replace him with a rival board, leading eastern factions to shut down all oil production.
The eastern-based administration, which controls oilfields that account for almost all the country's production, are demanding western authorities back down over the replacement of the CBL governor - a key position in a state where control over oil revenue is the biggest prize for all factions.
#Libya
@africaintel
Libya's Sarir, Messla and Nafoura oilfields have received instructions to resume production, engineers at the three fields told Reuters on Saturday, after a standoff between rival political factions shut most of the country's oilfields.
The resumption order was made by the fields' operator, the Arabian Gulf Oil Company, which did not provide any reasons, according to the engineers.
A struggle to control the Central Bank of Libya (CBL) has sparked a blockade of oil production and threatens the worst crisis in years for the major energy exporter, long torn between rival eastern and western factions.
The standoff was triggered when western factions moved this month to oust veteran governor Sadiq al-Kabir and replace him with a rival board, leading eastern factions to shut down all oil production.
The eastern-based administration, which controls oilfields that account for almost all the country's production, are demanding western authorities back down over the replacement of the CBL governor - a key position in a state where control over oil revenue is the biggest prize for all factions.
#Libya
@africaintel
Forwarded from Africa Intel
🇱🇾 Libya: A Dispute for Africa’s Largest Foreign-exchange Reserves
Amid the chaos of Libya’s long-sputtering civil war, the central bank in Tripoli, the capital, has stood strong. Its red-and-white striped façade, crowned with two turquoise cupolas, a throwback to the days of Italian colonisation, were unscathed.
Sadiq al-Kabir, the bank’s governor appointed after Muammar Qaddafi was toppled in 2011, survived two civil wars and six prime ministers. Libya has had two governments, parliaments, judiciaries and security regimes, but Mr Kabir, a mild-mannered bureaucrat, kept a vestige of unity, overseeing and distributing a single currency from his charming seaside bank.
On August 26th Libya lost that linchpin. Tripoli’s prime minister, Abdul Hamid Dbeibeh, sent his milititary into the bank and chased Mr Kabir, an erstwhile ally, into exile in Turkey.
Libya’s pliant presidential council sought to appoint a replacement and a new board. “The person filling the post has no legal basis,” says Wolfram Lacher, a Libya-watcher in Berlin.
#Libya
@africaintel
Amid the chaos of Libya’s long-sputtering civil war, the central bank in Tripoli, the capital, has stood strong. Its red-and-white striped façade, crowned with two turquoise cupolas, a throwback to the days of Italian colonisation, were unscathed.
Sadiq al-Kabir, the bank’s governor appointed after Muammar Qaddafi was toppled in 2011, survived two civil wars and six prime ministers. Libya has had two governments, parliaments, judiciaries and security regimes, but Mr Kabir, a mild-mannered bureaucrat, kept a vestige of unity, overseeing and distributing a single currency from his charming seaside bank.
On August 26th Libya lost that linchpin. Tripoli’s prime minister, Abdul Hamid Dbeibeh, sent his milititary into the bank and chased Mr Kabir, an erstwhile ally, into exile in Turkey.
Libya’s pliant presidential council sought to appoint a replacement and a new board. “The person filling the post has no legal basis,” says Wolfram Lacher, a Libya-watcher in Berlin.
#Libya
@africaintel