Panafrican News Agency

Top UN official in Libya calls for preserving independence, integrity of sovereign institutions

Tripoli, Libya (PANA) - The UN Secretary-General's Special Adviser on Libya, Stephanie Williams, has called for the protection of the independence and integrity of Libya's sovereign financial institutions as the country returns to the phase of divided state institutions with two rival governments.

These include the Libyan National Oil Company (NOC), the Libyan Investment Authority (LIA) and the Central Bank of Libya (CBL).

In a series of tweets, Williams wrote, "These sovereign institutions belong first and foremost to the Libyan people and must not be subjected to arbitrary or militarised pressure for the benefit of one party or another."

She said "the transparent management and distribution of the Libyan people's wealth must be a shared goal".

Libya has been caught in a new impasse since the postponement of elections on 24 December, aggravated by the existence of two competing governments.

The US embassy retweeted Williams' message, saying the US embassy supported the UN position on sovereign financial institutions.

"The United States strongly supports the independence and integrity of these sovereign institutions, which are apolitical and work in the interest of all Libyans," the US diplomatic mission said.

Recently, the co-chairs of the Libyan Economic Working Group -- EU, Egypt, US and UNSMIL -- stressed the need for sovereign institutions such CBL and NOC to remain independent.

They urged the authorities to ensure that the NOC has sufficient resources to boost production in a context of high oil prices for the stability of Libya.

They also stressed the need for transparency in government spending to ensure that the money is well managed for the benefit of the Libyan people.

-0- PANA BY/JSG/BBA/MA 28March2022